3 companies shortlisted for Olympic village

Published Apr. 6, 2011 7:10 a.m. ET

foxsports

Three private companies have been shortlisted for the takeover and long-term management of the Olympic village after the 2012 London Games.

The Olympic Delivery Authority says that Wellcome Trust, Hutchison Whampoa Limited and a joint bid from Delancey and Qatari Diar have been asked to submit final offers for the purchase of the village. It says a final decision on the winning bid is expected to be made in the next few months.

After the Olympics, the athletes' village will be converted into 2,818 new homes - 1,439 of which will be developed and managed by the winning bidder. The other homes will become affordable housing.