Posted on April 07, 2011

Qatari Diar and Delancey, a consortium involving the property arm of the Qatar Investment Authority and London-based real estate investment adviser Delancey was named yesterday as one of three bidders shortlisted to run part of the Olympic Village once the athletes have left.

The other two shortlisted bidders include international corporation Hutchison Whampoa and a medical charity which said last month it was considering buying London’s Olympic Park. London-based trust Wellcome Trust was invited to submit a final offer for the purchase and long-term management of that part of the village currently owned by the Olympic Delivery Authority (ODA), the body responsible for building the Games’ infrastructure. “The quality of the three shortlisted parties is a vote of confidence in the Olympic Village, demonstrating both UK and international interest in first-class British property,” ODA Chief Executive Dennis Hone said in a statement.

Nearly half the 2,818 new homes, to be converted from athletes’ quarters after 2012, are owned by the ODA, along with six future development plots in the village with the potential for a further 2,000 new homes. Triathlon Homes, a joint venture company involving developers and housing associations, has bought the other half for affordable housing. Politicians hope the £9.3bn ($15.21bn) invested in the Games will help regenerate what has been one of the most deprived areas of Britain.

A final decision on a bidder is expected in the summer.

source: The Peninsula