Praça do Comércio, Royal square in Lisbon, Portugal

Praça do Comércio is a 175 by 175 metre square in Lisbon, Portugal, enclosed on three sides by yellow arcaded buildings with red tile roofs. The southern side opens to the Tagus, where the Cais das Colunas marble steps lead to the water. At the centre stands Joaquim Machado de Castro's bronze equestrian statue of King José I, inaugurated in 1775.

After the 1755 earthquake, Prime Minister Marquês de Pombal commissioned the square as part of the reconstruction of the lower city. The new layout replaced the destroyed Ribeira Palace and symbolized Lisbon's rebirth as a modern European capital.

The name Terreiro do Paço, Palace Yard, survives from the royal residence that stood here until 1755. The oldest café in Lisbon, Martinho da Arcada, founded in 1782, occupies one of the arcaded buildings and was a favourite of Fernando Pessoa. On 10 June, Portugal Day, the square fills with military ceremonies and residents.

The square is always accessible as it has no gates or barriers, and offers enough space to avoid crowds even during events. The stairs at Arco da Rua Augusta provide access to the viewing platform, while the level ground across the square makes walking easy.

The statue of King José I at the center shows him trampling a nest of serpents, a symbol of defeating Portugal's enemies after reconstruction. Sculptor Joaquim Machado de Castro worked for more than 20 years on this bronze monument, unveiled in 1775.