The Praça do Comércio is the most central square of Lisbon in the Chiado area and close to the Tagus river. It is commonly known as the Terreiro do Paço which means palace square as it used to be the location of the Royal Ribeira palace before it was completely destroyed in the 1755 earthquake of Lisbon which destroyed most of the centre of Lisbon and led to the replanning of the centre by Pombal resulting in a grid lay-out of streets and squares which has charecterised it’s current architecture.
Please read more about it’s history on Wikipedia
In our modern times it is busily frequented by tourists who will generally wander to the water. It is often the location for concerts and festivals and it gives access to the busy shopping streets of the sophisticated Chiado district.
want to know more about Down town Lisbon? read our article on Lisbon districts here http://godiscoverportugal.com/lisbon-portugal/