The Plaza de Oriente is an attractive pedestrianised square lying to the east of the Royal Palace. In the centre of the gardens is the superb, equestrian, bronze statue of Felipe 1V by the Italian sculptor Tacca. The square`s name is derived from it being situated to the east of the palace, and an important meeting place. The many other statues of early kings in the gardens were originally created to adorn the palace parapet.