This square was opened in 1970, when the palace of the Counts of Faura was demolished. The palace was in the Gothic style. In it was the Rastro de Valencia from 1960 to 1994, when it was moved next to the Mestalla football field due to the restoration of the square.

The square had a market of wooden stalls that at the time of their restoration were already very deteriorated and with few of them dedicated to sale.

Under the square are the foundations of the Roman Circus of Valencia.