- There are many ways to spend your time and money at this attractive central square: stroll around and admire the architecture and the murals or even buy an original watercolor from one of the many pavement artists. During the Middle Ages, merchants congregated here to live and sell their wares. When Felipe II established the Court in Madrid, he decided that this square should be reserved for special occasions, and it started to take its present shape from 1790 onwards. The statue in the centre is that of Felipe III.
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