http://af.reuters.com/article/commoditiesNews/idAFL6E7JB25920110811Delancey, Qatari Diar sign Olympic village deal-sources
LONDON Aug 11 (Reuters) - A joint venture between UK developer Delancey and the property arm of Qatar's sovereign wealth fund has bought the athlete's village on the Olympic park in east London, two sources familiar with the matter told Reuters.
The deal was signed in the last 48 hours, the two sources said. It has been reported that a successful bid for the Olympic Village would have to be at least 500 million pounds ($811 million).
The 27-hectare athlete's village deal includes 1,400 homes and six other plots, which Delancey and Qatari Diar will develop as part of a wider urban regeneration scheme in the district when the games finish next year.
Delancey and Qatari Diar beat a rival bid from Hutchison Whampoa , which is Hong Kong billionaire Li Ka-shing's flagship ports-to-telecommunications conglomerate.
They also beat a 1 billion pounds proposal from the Wellcome Trust to take over all the 2.5-kilometre-square Olympic park.
An official announcement is expected in the next few days.
On July 28, UK developer Canary Wharf Group and Qatari Diar said they had won a 300 million pounds deal to redevelop the Shell Centre in London.
The companies would each contribute 150 million pounds to develop a 5.25-acre office, residential and retail scheme around a 27-storey tower that contains Royal Dutch Shell's London headquarters and which the oil major will still own.
I'm certainly not a specialist but the Qataris have been pouring money in London's property market for some years. They usually buy existing properties rather than developing new ones.Are you familiar in terms of quality of execution, management and rules application, how are the Qataris working on their London real estate portfolio?
I know that initially the Sellar Property Group wanted to build the project on their own, but then the crisis hit their financing and in order to keep the project alive they had to search for a partner, lowering their share in the project to 20%, but overall I am not familiar with other investments/purchases by the Qataris except for Harrods.I'm certainly not a specialist but the Qataris have been pouring money in London's property market for some years. They usually buy existing properties rather than developing new ones.
One very famous exception is the Shard, which wouldn't probably be U/C at the moment if it wasn't for Qatari money. However, they are just funding the project, they didn't have anything to do with the design as far as I know.
http://www.telegraph.co.uk/sport/ol...ional-Basketball-Invitational-test-event.htmlLondon 2012 Olympics: spectators to taste Games atmosphere at London International Basketball Invitational test event
Paying spectators will begin to trickle into the Olympic Park for the first time on Tuesday when the Basketball arena plays host to the six day long London International Basketball Invitational competition by way of a test event for the sport.
The Basketball arena - dubbed the wedding cake by most - is completed all bar a few spectator fittings.
The Olympic Park itself officially remains a building site so 3,000 fans a day - all six day long sessions including a training day on Friday are sold out - will be bussed in and out from the spectator gathering point near Stratford International railway station.
The stadium itself has a capacity of 12,000 but as with other Test events in the 'London prepares' series the scale of the event has been scaled down from what we can expect next year, although the six teams gathered are all ambitious and improving outfits with a number of global stars on parade to admire.
Great Britain will open up against France on Tuesday night and a busy week will also see them play Croatia, Serbia, China and Australia. Such is the standard of the field that it is perfectly possible that all six nations will be involved again at the Olympic tournament in 12 months' time.