It is the ballroom, the heart of the town; since the 13th century, it has been the central square.
It is surrounded by buildings that reflect architectural influences from the Gothic period to those of the 20th century. It is a large market square with major municipal institutions.
Until the end of the 19th century, this location was a harbour for fishing boats, then it was filled in, and this spacious square was formed.
An electric railroad was connecting Piran and Lucija. The square was the last turning point of the tram, and therefore, the square is elliptical in shape.