The old Plaza de la Independencia was built in 1978 during the government of Dr. Joaquin Balaguer (1906-2002), and then it was reopened and renamed Plaza de la Bandera on February 14, 1997 by President Leonel Fernández after some works of remodeling.

On January 25, 1979, Pope John Paul II celebrated Holy Mass in this square. The Pope was in front of the original painting of the Virgin of Altagracia that was transferred especially from the Basilica of Higuey for this occasion.

In the center of this Monument to the Fatherland, is the Arco del Truinfo. At its sides are two angels that represent: Glory and Honor. Under the arch, there is the large sculpture by Juan de Avalo that represents "The Motherland" that protects and supports the fallen soldier for defending it. A huge Dominican flag is displayed under the arch.

Around this environment, government buildings such as the Ministry of Defense, the Central Electoral Board, the Dominican Agrarian Institute and the Export Center of the Dominican Republic are located.