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It was named to celebrate our National Flag. Its previous name was Mr Saldanha Marinho. At the begining of construction a Monument to honor General Daltro Filho was placed there, later on it was removed. General Daltro Filho was the Chief of the Eighth Army Region.

Today, In the Square is located The General Headquarters of the Eighth Army Region.

Based on the Book "Ruas de Belém" by Historian Ernesto Cruz