After WWII, a square was constructed on the ground of the demolished coal-yards of the nearby custom house. Goulandris brothers, belonging to a shipowners' family, have financed the creation of the Sailors' Monument, which was trusted to sculptor Ghiannis Pappas. The monument was installed on this square in 1974.
The visitor who stands on this square can see as far as the lighthouse on Didymo Island or Gaïdouronisi.