In late 1950s and early 1960s, located in the town centre, the street attracted shops of various trades, like bank, jewellery, fashion, supermarket and cinema. Restaurants offer different schools of Chinese cuisines.
The Hong Kong Government have planned to redevelop the town centre. Much concern has been aroused as many completed projects destroyed the traditional communities, culture and heritage. As of 2014, Yue Man Square is under demolition by the Urban Renewal Authority.