[2] Surrounded by imposing buildings, the square has long been the spiritual, financial and cultural center of the fortress of Timișoara.

[3] Its sides conformed to the new street plot, but the orientation of the church on the diagonal led to the formation of two triangular squares, when the current Cetate district was completely rebuilt by the Austrians.

Subsequently, the market bore various names: Sankt-Georgs-Platz, Szent György tér, Ion C. Brătianu or Vasile Roaită during the communist years.

The first bank palace in the city was built on the western side of the square in 1855, when it became the headquarters of the First House of Savings (German: Erste Temeswarer Sparkassa).

[3] Klapka-Kossak House, home to Timișoara's first meteorological observatory (1783–1803) and then one of the largest and most modern photographic studios in the empire, owned by Josef Kossak-Bohr (1885–1922), borders the square to the east.

[5] Later, a second line was put into use, which started from St. George Square, bypassed the fortress and reached the railway station through the Iosefin district.