The Olympic Delivery authority has signed contracts with developers Delancey and Qatari Diar for the purchase and long-term management of the Olympic Village. 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. 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 £557M 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.
The Wellcome Trust and PLP dropped out of the bidding earlier this month.