The Olympic village has been sold to the property arm of Qatar’s Royal family at a loss of £275m.

In alliance with British developer Delancey Estates, the two companies will be responsible for just over half of the existing 2,818 homes and for the development of a further 2,000 units on new land.

The partnership “creates the first private-sector residential fund of more than 1,000 homes to be owned and directly managed as an investment.”

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