The old Alcázar burned on December 24, 1734, and Philip V commissioned a new palace on the site. Filippo Juvarra oversaw early work with a design inspired by Bernini's Louvre plans. Giovanni Battista Sacchetti continued it and designed the large square courtyard, with Ventura Rodríguez, Francesco Sabatini and Martín Sarmiento cooperating. Sabatini enlarged it for Charles III from 1760.
Construction ran from 1738 to 1755, and Charles III first occupied the palace in 1764. The exterior is described as late Baroque classicism. The palace has over 1,450,000 square feet (135,000 m²) of floor space and 3,418 rooms, making it the largest royal palace in Europe.
The Throne Room dates from 1772 and has Tiepolo's ceiling fresco The Apotheosis of the Spanish Monarchy. The Royal Armoury opened in 1897. The palace is the royal family's official residence, used mainly for state ceremonies, and it is open except during state functions.
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