Princess Beatrice is engaged to millionaire property tycoon Edoardo Mapelli Mozzi. Which also means another royal wedding is not only on the horizon, but that it might be the last one for a while.

Beatrice, the Queen’s granddaughter (daughter of Andrew and Fergie, sister of Eugenie, cousin of William and Harry), formally announced her engagement on Thursday, September 26th. As statement from Buckingham Palace read,“the Duke and Duchess of York are delighted to announce the engagement of Princess Beatrice to Mr Edoardo Mapelli Mozzi.”

“We are extremely happy to be able to share the news of our recent engagement,” said Beatrice and Edoardo. “We are both so excited to be embarking on this life adventure together and can’t wait to be married.”

They’re planning to wed in 2020.

“We share so many similar interests and values,” they added. “And we know that this will stand us in great stead for the years ahead, full of love and happiness.”

The couple’s engagement photos were shot by Beatrice’s younger sister Eugenie, who held her own major wedding last October. She shared the images on Instagram. “Beabea - wow! I'm so happy for you my dearest big sissy and dear Edo,” she wrote in the caption. “It's been a long time coming and you two are meant to be.”

Edoardo is a longtime family friend, though his relationship with Beatrice only turned romantic earlier this year (they made their first official appearance as a couple in March). Edoardo has been married once before, and has a two-year-old son, Wolfie.

In an official statement, Beatrice’s parents Prince Andrew (who has been publicly accused of sexual abuse by a victim of Jeffrey Epstein) and Sarah, Duchess of York, said that “we are thrilled that Beatrice and Edoardo have got engaged, having watched their relationship develop with pride. We are the lucky parents of a wonderful daughter who has found her love and companion in a completely devoted friend and a loyal young man. We send them every good wish for a wonderful family future.”

Beatrice is the last of the queen's grandchildren with princely titles to get engaged, following Princes William and Harry and her sister Eugenie. Her non-titled cousins Zara Tindall and Peter Phillips (the children of Princess Anne) have also both married. The Queen's other two grandchildren, Lady Louise Windsor and James, Viscount Severn, the children of Prince Edward, Earl of Wessex, are just 15 and 11 years-old, meaning Beatrice's wedding may be the last major royal wedding in the United Kingdom for quite some time.

Related: A History of Princess Beatrice and Edoardo Mapelli Mozzi's Relationship