The component project is one of a number of projects that was incorporated in the K1 repackaging effort. Included in the component-api package is the default sakai.properties file.
Ye olde location
A number of properties embedded therein are Sakai UI-related or release-related (e.g. version.service, version.sakai) and their default settings should be defined (or overridden) elsewhere (the portal being one location) so that release managers and others can set these values independently of the Kernel when creating new Sakai artifacts for QA or public consumption.