Britain’s Prince William will sell off parts of his vast Duchy of Cornwall estate over the next decade to ​help fund plans to invest more than 500 million ‌pounds ($670 million) in local communities, including affordable housing and environmental projects.

The sales were reported by the Times newspaper to equate to 20% of the ​estate, which is one of Britain’s biggest landowners with a ​portfolio that includes large swathes of land as well ⁠as commercial and residential properties.

“The Duchy should exist to make ​a positive impact, particularly in the communities where we can make ​the biggest difference,” said Will Bax, Chief Executive of the Duchy of Cornwall.

“That ambition requires significant investment and, in some cases, means rebalancing what we ​own to be as impactful as possible to our ​communities, now and in the future.”

Bax said the money would be “largely funded by ‌reinvesting ⁠capital from across the Duchy, alongside development income, partnerships and some borrowing.”

William, who received a private income of more than 20 million pounds from the Duchy last year, and his father King ​Charles, have in ​recent years faced ⁠criticism over the way their estates have been managed.

Aides say William has been looking closely ​at the management of the Duchy since inheriting it ​in 2022.

In ⁠2024, a Sunday Times report and separate TV documentary accused Charles and his heir William of making millions from the country’s health ⁠service, ​army and schools from charges imposed by ​their respective estates.

The Duchy subsequently reduced rents significantly for several charity and ​community tenants.