Commerce Square

The earthquake that destroyed Lisbon started around 9:30 a.m. on November 1st, 1755. The earth shook violently. Thousands of buildings collapsed mainly in the downtown area and on the hillside to the Chiado.  The Palácio Real da Ribeira, the Teatro da Ópera, convents, palaces, schools, hospitals, … Everything collapsed.

In the Tagus, giant waves crashed the boats against the coast and invaded the streets of the downtown area. A fire started in the Restauradores area and, north winds shifted it towards the river. A large part of Lisbon was reduced to ashes. Thousands of people died in a climate of fear.

Sebastião Melo* – he was the Kingdom’s Secretary of State, at the time the key figure in the Portuguese government – immediately took security measures and ordered the city to be cleaned up. He then ordered the design of a new Lisbon, a city of its time, geometric, with identical buildings and new, stable structures.

The grid adopted in the reconstruction plans allowed for the design of Terreiro do Paço, a majestic square overlooking the Tagus estuary.

In the center stands the equestrian statue of King José I, inaugurated in 1775. It was the first bronze statue cast in Portugal and shows the king on horseback crushing snakes—a symbol of victory and renewal after the tragedy of 1755.

To maintain the maritime tradition, a pier that had disappeared in the earthquake was rebuilt, giving rise to the Cais das Colunas, which offers a beautiful view of the river and the south bank.

From the old palace to the political heart of the city

The name Terreiro do Paço dates back to the Ribeira Palace, the official residence of the kings of Portugal since the 16th century. The earthquake completely destroyed the palace, which was not rebuilt, but the popular name has stood the test of time.

The square was also the scene of decisive moments in national history, such as the regicide of 1908, in which King Carlos I and Crown Prince Luís Filipe were assassinated. This attack marked the end of the constitutional monarchy and paved the way for the establishment of the Republic in 1910.

Culture, leisure, and tourism

Today, Praça do Comércio is one of Lisbon’s most visited tourist attractions. It welcomes thousands of people every day and is surrounded by attractions such as the Rua Augusta Arch and its panoramic viewpoint.

The cafés and restaurants with terraces along the river invite you to take a break, while tram 28, with a stop nearby, takes visitors on a tour of the historic neighborhoods.

Nowadays, this square hosts major events all year round. One of the most impressive is the fireworks display put on by Lisbon City Council on New Year’s Eve.

During Christmas, the space is transformed with lights and activities for all ages.

Commerce Square is classified as a National Monument.

* later named the Marquis of Pombal.