Terreiro do Paço or the Palace Square was a seat of the royal residence built during the 16th century. Situated on the banks of Tagus River, the Ribeira Palace served as a residence of King Manuel I, until it was destroyed by the earthquake in 1755. The reconstruction began immediately after that which took almost 200 years to complete. Today the Praça do Comércio is a venue for concert, festivities and great processions. Arco da Rua Augusta, a triumphal arch graces the Palace Square on one side. The monumental arch was dedicated to the swift restoration project commencement after the earthquake. The statue of King Jose I showing him on horseback adorns the centre of the square. The Arco Triunfal creates a stunning backdrop for the intricately decorated pedestal with a bronze statue. The vast expanse of Palace Square opening up to the river Tagus is a sight to behold. The square is lined by cafes and restaurants overlooking the river. Grab a seat at legendary Café Martinho da Arcada and relive the history and tragedy of Lisbon endured in last 500 years.