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The palace was built as the summer residence of Count Anton Grasalkovič in the 1760s in an extensive garden in front of the city walls. It was probably designed by F. A. Hillebrand in close cooperation with the owner.
The palace was enlarged in the 1770s and the originally separate chapel was incorporated within the palace, which gave the palace its current form. The palace became the centre of society life and was visited by the Empress Maria Theresa.
In the 1890s, the palace was reconstructed to meet the requirements of the family of Archduke Friedrich, to whom the palace belonged until 1919. After the First World War, the palace became the headquarters of the Territorial Military Command (Zemské vojenské veliteľstvo).
The palace was adapted in the 1940s according to the design of Emil Belluš and became the residence of the President of the Slovak Republic.
The palace was used from the 1950s onwards by the Pioneer Organization. The palace became the official residence of the President of the Slovak Republic in 1996 after an extensive reconstruction.
The impressive rococo and classical frescos in the Garden Hall and St. Barbora’s Chapel have been restored to their original beauty. Some of the original rich gilded stucco decoration can still be seen in the main hall and part of the original wooden panelling has been preserved in the former musical salon. The staircase with its unique sculpture decoration is one of the most beautiful in Bratislava.
The palace regained at least some of its original surroundings and environment after the reconstruction of the park.