Olympic Village sold to Qatari developers for £557m in deal that costs taxpayer £225m | Mail Online
The London 2012 Olympic Village has been sold to a private British company and the investment arm of the Qatari ruling family in a deal that will cost the taxpayer £225m.
The property company of the Arab state's royal family and British developer Delancey have signed a £557 million-pound deal to buy and manage the athletes village as private housing after next year's Olympics.
But the latest estimates suggest that the village has already cost £1.1bn to develop. Today's sale price represents a loss of £543 however part of the money will be recouped with contingency payments.
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