It was renamed Viktoria in honor of the Queen of the United Kingdom on the occasion of the annexation of the Ionian Islands to Greece in 1864, as a gift to the enthronement of the Queen's nephew, Prince Christian William Ferdinand Adolf George of Denmark, later George I of Greece.

The square crosses the streets of Hayden, 3 September and Aristotelous; in its center is the sculptural complex Theseus saves Hippodamia by Johannes Pfuhl (1846–1914).

The luxurious apartments of these buildings were addressed to the bourgeoisie of Athens at the time, since they provided a variety of amenities and had high quality architectural elements.

[citation needed] Gradually, the area began to decline, largely due to its abandonment by its original inhabitants.

[1] Since the worst days there has been an improvement in the neighborhood around the square, which is linked to the general upgrading of downtown Athens.