Built in 1885 to replace the old Mercado da Ribeira, despite having never fulfilled the functions for which it was originally intended due to the reluctance of retailers to leave the previous market, the Ferreira Borges market is now used for cultural exhibitions and fairs.

The name of the market pays homage to José Ferreira Borges, a jurist and politician from Porto who supported the liberal regime in Portagallo.

Currently, it no longer serves as a market and is exploited by private individuals; familiarly known as the 'Hard Club', it serves as a cultural space where concerts, exhibitions, book fairs and musical events are organized.