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FINANCIAL NEWS
Delancey and Qatari Diar buy London’s Olympic Village
13 Aug 2011
(MENAFN) Delancey’s chief executive, Jamie Ritblat, said that Delancey and Qatari Diar joint venture purchased London’s Olympic Village for USD903.5 million, and that the development of the site is the responsibility of the UK, reported Arabian Business.
Ritblat also said that this is a long-term project for both companies, for they are looking to retain the neighborhood and create a place where people will want to live, work and play for years to come.
Secretary of State for Culture, Olympics, Media and Sport Jeremy Hunt said that this is a fantastic deal that will give taxpayers a great return and shows how we are securing a legacy from London’s Games.
It is worth noting that Delancey and Qatari Diar will buy 1,439 homes that will become private housing after the Olympics, plus six adjacent future development plots with the potential for a further 2,000 new homes.
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