Two festivals are celebrated in Shey during summer. Metuka festival in July and Shey Shublas festival in August is celebrrated in the shey palace. The Shey palace has be taken up by ASI for conservation.
Shey monastery and palace is located 15 kilometers from Leh town on the Leh - Manali road. Shey palace and the monastery was built in the sixteenth century AD. The monastery enshrines the Du Khang with an almost 10 meter high gilder copper statue of Lord Buddha.
The Shey palace was built by the king Deledan Nagmyal and Shey palace boasts of the argest victory stupa in Leh the top of which is made of pure gold. The Shey palace was the abode of the royal family till 1834 AD when they moved to the Stok palace.