Afrikaans Palace, Knossos Palace will be on sale this weekend
Africa’s largest and most prestigious royal palace is about to be sold.
Afrikaans palace will be sold to Knossom Palace, an African state-owned company, which will take over the former palace, which was built in the 1920s.
The palace will have about 3 million square feet of space, the majority of which is dedicated to a 10-storey royal garden.
Knossoms Palace, a project of the city of Kinshasa, is expected to sell for about $1.4 million.
The new owner will be the state-run African Development Bank, a unit of the ruling African National Congress.
The new owners are the largest private owners of state-controlled assets in Africa.
African Development Minister Amandla Sen has said the sale is a historic moment.
“We are extremely proud of our work on the Kinshansa Palace and the African Development Fund’s investment in the building,” she said in a statement.
Knossoms palace is a symbol of Kansa’s colonial past.
The state-of-the-art palace, completed in 1902, is the largest in the country.
The current owners are Knossomes Palace Group, the former owners of Knosso Palace, and the newly formed African Development Institute (ADI).
They have a combined investment of about $3.8 billion.