ROYAL ENGAGEMENT: See Princess Beatrice and property tycoon Edoardo Mapelli Mozzi's engagement photos and her dazzling ring

Another royal wedding is on the cards because Princess Beatrice of York, 31, and her Italian boyfriend and property developer Edoardo Mapelli Mozzi, 34, have made things official!

Buckingham Palace has released a statement of the news as well as shared the engagement portraits of the pair. Edoardo, who goes by the Edo, had popped the question while they were away for the weekend in Italy earlier this month.

"We are both so excited to be embarking on this life adventure together," the pair said in the announcement, adding, "We share so many similar interests and values, and we know that this will stand us in great stead for the years ahead, full of love and happiness."

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A post shared by Princess Eugenie (@princesseugenie) on Sep 26, 2019 at 3:10am PDT

Dressed in a floral midi dress by Australian brand Zimmermann, Princess Beatrice took a more casual, intimate approach for her engagement photos as compared to her sister, Princess Eugenie (who was behind the lens for the coloured photos taken in Italy). 

The black and white pictures were shot by photographer Misan Harriman, and showcase a more playful side of the loved up pair.

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A post shared by Misan Harriman (@misanharriman) on Sep 26, 2019 at 3:38am PDT

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A post shared by Misan Harriman (@misanharriman) on Sep 26, 2019 at 4:01am PDT

There's also a close-up of the princess' diamond engagement ring, which her new fiance designed together with British jewellery designer Shaun Leane.⁣ It boasts a round 2.5 carat centre stone that is flanked by two baguette diamonds, as well as a platinum band.

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A post shared by SHAUN LEANE (@shaunleanejewellery) on Sep 26, 2019 at 5:57am PDT

In an interview with Hello!, the jewellery designer revealed that the entire process of creating the ring took about four months, after Edo had reached out to him. 

"He came to me and he knew he wanted a round diamond. He knew he wanted a modern classic; something that had a little bit of difference to it, that wasn't just a classic that we see everywhere. That's why he came to me. So basically, what I wanted to do with him - because he had an aesthetic for art deco and Beatrice has an aesthetic for Victorian – we fused the two and mixed an art deco element with a Victorian element to the ring so that there was a fusion of their favourite aspects."

Leane has also crafted jewellery for both the Duchess of Cambridge and the Duchess of Sussex.

Also read: THE BEST-LOVED ENGAGEMENT RINGS FROM SOME OF THE WORLD'S TOP JEWELLERY BRANDS

Princess Beatrice and Edo reportedly started their relationship around the time that Princess Eugenie tied the knot to Jack Brooksbank last year. He is the son of former alpine skier Count Alessandro Mapelli Mozzi, who represented Britain to take part in the 1972 Olympics, and has a two-year-old son whom he co-parents with his former fiancee.  

The royal wedding is set to take place next year.