This square is dedicated to the Count of Barcelona and King of Aragon, Valencia, Mallorca, Sicily, Sardinia and, for a time (1442-1458), of as well of Naples .

The Plaza de Alfonso el Magnánimo was formed when the French Marshal Suchet ordered, in 1812, the demolition of some houses for tactical war reasons, in the Valencia occupied by the French. He had militarily occupied Customs and feared an attack from the adjoining houses.

The sculpture of Jaime I was placed in this square in 1891.

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