ODA’s Olympic Village dilemma …

A small update on how the bidding process on the Olympic Village is going, from a couple of sources who ought to know.

Apparently, there is strong political will behind the Wellcome Trust’s bid. The charitable biomedical research foundation’s plans to buy the village alongside the media centre and aquatics centre to create a science and research zone is seen as an eminently sensible way of creating a credible and successful as well as popular legacy.

However, the suggestion is that Hong Kong property and construction giant Hutchison Whampoa has bid higher than its rivals. The company has lined up a string of Far Eastern investors already for the private apartments I understand. But here is the question being asked. Would this lead to a village that mixes half social housing with a practically empty private element visited only occasionally by rich Far Eastern students using it as a base for studies in the UK?

For some reason Qatari Diar and Delancey are being seen by my people in the know as a little off the pace. We shall see very shortly.

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About Paul Norman's Olympics blog

News Editor of CoStar News, a commercial property news service. Regular blogger on the London 2012 Olympics and what it means for property and the the regeneration of East London
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