The Romanian Royal Family has been given free use of Elisabeta Palace for the next half century. This news was published last Sunday by the prime minister of the Romanian republic, Ludovic Orban. The white palace, just outside the city centre of the Romanian capital Buchares,t has served as the headquarters of the Romanian Royal Family since the fall of communism.
In 2001, the Romanian Senate passed a bill which states that the Palace would be awarded to the former king for use as a residence during his lifetime. Since then, members of the former Royal Family have been living there. Foreign heads of state, royalty and politicians are received there, as well as Romanian political, cultural, economic and academic figures when special events are conducted. Now the palace has been confirmed to be in royal possession for the next 49 years.
As of 2020, the palace is the official residence in Romania of Her Majesty Margareta, Custodian of the Crown of Romania, her husband Prince Radu and her sister Princess Maria.
The news about the free lease came on the celebration of 10 May this year when the Romanian prime minister, Ludovic Orban, sent a warm message to the Custodian of the Crown highlighting the important role that the royal family has had in Romania in the past and in the present.
According to recent news reports, the Elisabeta Palace is valued at 44 million lei, just under 10 million US dollars. The Romanian Royal Household will now retain the right to use Elisabeta Palace free of charge until 2069.
The Elisabeta Palace was built in 1936 and is designed in 1930 by the architect Duiliu Marcu and built in 1936 for Princess Elisabeth, the daughter of King Ferdinand I and his wife Queen Marie. She was also the aunt of King Michael I who was forced to abdicate on 30 December 1947.