Parian District is one of the several parians in the Philippines, scholar Resil Mojares explains. Just like Binondo and San Nicholas District of old Manila, it started as a Chinese ghetto located across an estuary on the north side of the Spanish Quarters in the 16th century. The commercial boom of the nineteenth century transformed Parian’s identity into a market and trading center. By the twentieth century, it became a genteel district where Cebu’s founding families dwelled. Parian District once the center of the society and culture in old cebu in fact, the name " Pari-an was delivered from the word "Pari-Pari" the term means "to trade"

We continued the second leg of our Cebu Heritage Walk in this district that is slowly reviving its genteel and affluent past. Passing the Calle Colon Obelisk, we walked towards the Heritage of Cebu Monument.
The Heritage of Cebu Monument is a tableau of sculptures made of concrete, bronze, brass and steel showing scenes about events and structures related to the history of Cebu. The construction of the monument began in July 1997 and it was finished in December 2000.
Local artist Eduardo Castrillo built the sculptures of the Cebu Heritage Monument. He and the late Senator Marcelo Fernan together with donations from other private individuals and organizations funded the construction of the monument.
The structures depicted in the Heritage Monument are the Basilica del Santo Niño, the Cebu Metropolitan Cathedral, the Saint John the Baptist Church, the Magellan’s Cross, and a Spanish Galleon.
The scenes depicted in the Heritage Monument are the baptism of Rajah Humabon, a procession of the Santo Niño, a Roman Catholic mass, and the Battle of Mactan between Lapu-Lapu and Ferdinand Magellan. The persons depicted in the monument include the late president Sergio Osmena Sr. and St. Pedro Calungsod.

The Heritage Monument is located in the historic Parian District, which during the Spanish period was home to the residences of the most prominent families in Cebu at that time. The St. John the Baptist Church previously stood on the site of the monument’s location. However, the diocese of Cebu demolished the church in 1875.