Phaistos. Crete. Greece. View of one of the four large stone circular storage pits at the south end of the West Court. Also known as Kouloures, the pits date from the first palace period (1900-1700 BC) and were generally regarded as depositories for offerings from the Palace or granaries. They are identical to the pits found at Knossos. The Minoan palatial city of Phaistos or Phaestos was the second most important Minoan palatial city in Crete after Knossos and is situated in central southern Crete in the Iraklio prefecture. Crete is Greece’s largest island and the fifth largest island in the Mediterranean.