It was in this room that in 1515 Margaret of Austria formally relinquished her regency over the Low Countries to Charles von Habsburg, and the future emperor Charles V became the Duke of Burgundy. It was in this same room that, 40 years later, Charles V abdicated in favour of his son, King Philip II of Spain. During his reign, Charles V ordered the creation of Bailles Square (French: , Dutch: ) in front of the palace, the building of galleries and rooms in Renaissance style and the construction of the "Grand Chapel" in late Gothic style, in memory of his parents, Philip the Handsome and Joanna of Castile.