ODA denies Qatari involvement in Olympic Village

The Olympic Delivery Authority has denied that it is trying to persuade the Qatar Investment Authority to invest in the £900m Olympic Village.

The response follows speculation in Contract Journal's sister magazine, Estates Gazette, reported in the Evening Standard, that Middle Eastern investors could be brought on board to plug the £400m funding gap in the Village, as Lend Lease struggles to raise cash for the project.

ODA chief executive David Higgins said: "There continues to be a wide range of speculation about the Olympic Village but we have consistently said we remain committed to continuing our discussions with Lend Lease, banks and Registered Social Landlords on the long-term financing of the project. We have been given approval by the Government to continue these discussions.

 “Neither the Qatar Investment Authority nor Chelsfield Partners, in which the Qatar Investment Authority owns a stake, have any involvement in the discussions regarding the funding of the Olympic Village."

The ODA also announced that piling work has now been completed on three blocks of the Olympic Village.