The shortlist of companies who will be invited to submit financial proposals for the purchase and long-term management of the London 2012 Olympic Village has been announced.

After the Games the Village will provide 2,818 new homes for east London. Triathlon Homes have already purchased 1,379 of the new homes, which will become affordable housing. The Olympic Delivery Authority (ODA) owns the remaining 1,439 homes, which will become private housing after 2012, together with six future development plots on the Village site, with the potential for further new homes.

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The ODA is looking to secure best value, together with a long-term commitment from an investor with the experience and expertise needed to realise the full potential of the new homes being built and the future development opportunities across the Village site.

ODA Chief Executive David Higgins said: "The quality of the shortlist is a vote of confidence in the quality of the Olympic Village. Securing a shortlist with many of the leading property investors and managers both in the UK and around the world takes us an important step towards ensuring the Village becomes one of the strongest legacies from the Games."

(CD)