Praça do Comércio

Praça do Comércio Terreiro do Paço
Square
View of the statue and the arch
Nickname(s): Terreiro do Paço
Country	Portugal
Province	Estremadura
City	Lisbon
Approx. Size	35.000 m2
Parishes	Santa Maria Maior

The Praça do Comércio (Portuguese pronunciation: [ˈpɾasɐ du kuˈmɛɾsju]; English: Commerce Square) is located in the city of Lisbon, Portugal. Situated near the Tagus river, the square is still commonly known as Terreiro do Paço ([tɨˈʁɐjɾu du ˈpasu]; English: Palace Yard), because it was the location of the Paços da Ribeira (Royal Ribeira Palace) until it was destroyed by the great 1755 Lisbon earthquake. After the earthquake, the square was completely remodelled as part of the rebuilding of the Pombaline Downtown, ordered by Sebastião José de Carvalho e Melo, 1st Marquis of Pombal, who was the Minister of the Kingdom of Portugal from 1750 to 1777, during the reign of Dom José I, King of Portugal.

Urban development of the banks of the Tagus river (the Ribeira) was given a definitive impulse in the early 16th century, when King Manuel I built a new royal residence – the Ribeira Palace – by the river, outside the city walls. The area was further developed with the building of a port, shipbuilding facilities (the Ribeira das Naus), the Casa da Índia and other administrative buildings that regulated the commerce between Portugal and other parts of Europe and its colonies in Africa, Asia and the Americas.