Waves of Middle Eastern immigrants arrived at the port and settled in the area during the latter half of the nineteenth century. In 1887 Lebanese immigrant Benjamin Jafet opened the first store on Rua 25 de Março. Other merchants began opening their own shops and the area grew. During the 1960s the area suffered with frequent flooding, which damaged the merchandise. The resulting necessity to sell large quantities of inventory quickly and at deep discounts established Rua 25 de Março's reputation as a center for wholesale pricing.