Developers buy London's Olympic Village

LONDON, Aug. 12 (UPI) -- Qatar's sovereign wealth fund and British developer Delancey have purchased the still-under construction East London Olympic Village, Delancey said.

The deal, which includes 66.7 acres in Stratford, was valued at $907 million, Sky News reported Friday.

Delancey said there were 2,800 homes planned for the site. Construction, which began three years ago, is scheduled for completion in 2012.

London Mayor Boris Johnson said it was "a great deal for London."

"It is another big step towards securing a fantastic future for the new neighborhoods and communities we have always said would be created as a major legacy for the capital after the 2012 Games," he said.