The Palace is the largest and most significant royal residence in the country, containing emblematic official spaces such as the "Throne Hall", the "Royal Dining Hall" and the monumental "Voivodes' Staircase". An equestrian statue of the first king of Romania, Carol I stands in the center of a large square in front of it, traditionally known as the "Palace Square"(), but renamed "Revolution Square" after the Romanian revolution of 1989.