The palace was built at the turn of the 19th and 20th centuries on the order of King Charles I. It was to be a residence for his nephew and heir to the throne, Ferdinand together with his wife. The palace was built in the Art Nouveau style according to the design of the Czech architect Krela Liman. Bernhard Ludwig from Vienna was responsible for the interior design.
The palace has 99 rooms, of which the Golden Bedroom is the most unusual. Like some other rooms, it was designed in accordance with the guidelines of Queen Maria. They are dominated by the Art Nouveau style with Byzantine and Celtic elements. In contrast, the finish of the honor hall is rather simple, and the oak-paneled walls harmonize with the glass ceiling.
After the communist period, when the palace was nationalized, the property returned to the royal family. Since 2006, it has been rented by the Romanian state and made available to the public.