Contracts have been signed with Delancey and Qatari Diar for the purchase and long-term management of the Olympic Village in east London.
The joint venture will work alongside Triathlon Homes who will manage the affordable housing in the Village.
The Village will deliver 2,818 new homes, including 1,379 already purchased by Triathlon Homes to become high-quality affordable housing.
Delancey and Qatari Diar will now acquire the Olympic Delivery Authority’s interests in the remaining 1,439 homes, which will become private housing, along with six adjacent future development plots, with the potential for a further 2,000 new homes.
Delancey and Qatari Diar will invest around £557 million for the purchase and long-term management of the Olympic Village.
The deal also includes arrangements to provide a future profit-share for the public sector.
ODA chief executive, Dennis Hone, said: ‘This deal will deliver a significant return to the public purse and a first-class owner for the Olympic Village.
“It secures two leading property investors with the experience and expertise needed to make the Village one of the strongest legacies from the Games.
“The Village will deliver the best of city living all in one place with high-quality new homes, education and healthcare facilities, new parklands, great transport links, public squares and open space.”
Also in the UK today, City.Mobi is celebrating the success of its new guide to London.
City.Mobi offers the most comprehensive mobile travel guides available, with over 800 cities in 200 countries listed. Each is developed by the City.Mobi team to combine into a single global travel directory.
London.Mobi is the latest in this illustrious line up, offering click to call functionality – which means no scribbling down telephone numbers.
Most entries are also linked to websites where users can quickly access more detailed information if needed.
Other key features include information on accommodation, restaurants, attractions, entertainment, nightlife, shopping, and transport.
City.Mobi guides include user reviews and traveller utilities such as a translation guide, currency converter, news and local weather guide.