The square is located in Lower Town, with the Croatian National Theatre building at its centre.

However, the majority of buildings overlooking the square were built in the late 19th century in the historicist style of architecture.

Being one of the most prominent squares in Zagreb its name was often changed in accordance to political circumstances of the time.

Zagreb's Mayor Milan Bandić said that there is no historic reason to change the name of the square.

[8][9][10] The Square was officially renamed by the City of Zagreb Assembly, and adopted its new name on 1 September 2017.