The square is located in front of Belém Palace, an early 18th-century palace that nowadays serves as residence for the President of Portugal. The square is named after the Second Governor of Portuguese IndiaAfonso de Albuquerque, and offers the best views of Belém Palace. It has a beautiful monument, in neo-Manueline style, by artists Silva Pinto and Costa Mota tio, inaugurated in 1902. The monument carries a bronze statue of Afonso de Albuquerque and has reliefs about his life.