The square is located in the historical district of Ribeira (riverside in Portuguese), part of the São Nicolau parish.
The Ribeira district spreads alongside the Douro river and used to be a centre of intense commercial and manufacturing activity since the Middle Ages.
[2] In the mid-18th century the city needed new urban improvements to provide for the swift flow of goods and people between the Ribeira neighbourhood and other areas of Porto.
[1][2] The northern part of the square has a monumental fountain, three storeys high, built in the 1780s and decorated with the coat-of-arms of Portugal.
The square also has a modern cubic sculpture by José Rodrigues (nicknamed the Cubo da Ribeira) over the remains of a 17th-century fountain.