Built in two and half years with financial support from the population and unveiled by Dr. Hakkı Şinasi Pasha on August 8, 1928, it was designed by Italian sculptor Pietro Canonica.
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The monument at the center of the square, which features an equestrian statue of Mustafa Kemal Atatürk, is made of marble and bronze, and was crafted by the renowned Italian sculptor Pietro Canonica in 1927 (he also crafted the Republic Monument at Taksim Square in Istanbul, and other monuments in Ankara, Turkey.)