Prince Willem-Alexander and Princess Maxima sold Mozambique villa

Dutch Prince Willem-Alexander and his wife Princess Maxima have sold their holiday villa in Mozambique. The information was revealed by Prime Minister Mark Rutte on Monday

The prince and princess have tried throughout 2011 to sell the property to another private individual. That is “because the real estate market failed,” says Rutte. The villa was therefore given up on January 11 “for a symbolic amount” to Machangulo SA, the organization that operates as a Homeowners Association and as such manages the project on the Mozambican peninsula Machangulo. The exact price was not disclosed.

The ownership of the property, the shares in the project and construction rights are thus transfered from Willem-Alexander and Maxima to the Owners Association, who will try to sell the house. The financial risk is assumed by the prince and princess, writes the Prime Minister. Through the sale, the Dutch Royal couple will have “no further involvement with the project in Mozambique.”

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The prince and princess decided in late 2009 to sell the house after the big fuss around the project broke out. The couple had part of plenty of publicity and discussions about their participation in the building project. The criticism increased especially in the Second House (Tweede Kamer) of the Parliament.

Willem-Alexander had initially an equity interest in Machangulo SA. In the summer of 2009 the prince brought that interest under the Netherlands-based Foundation Trust Machangulo, to create a more distance from the business. This foundation was later dissolved.