Games to breathe life into London economy
(Agencies)
Updated: 2005-07-07 09:49

London also has a mixed history with big urban projects.

The Canary Wharf development in the old docklands area that was devised two decades ago has been slow winning business away from the City financial district. The Millennium Dome, another big east London project, went millions of pounds over-budget.

And there is the shadow of the Montreal Olympics in 1976 which has left the city still paying off debts for facilities it built three decades ago.

While better transport in London is desperately needed, critics argue that centring the games in East London could force out local residents through higher rents in what is already the world's most expensive city after Tokyo and Osaka.

The Royal Institution of Chartered Surveyors predicted that a surge in East London house prices now was "inevitable".

Close

Armstrong wears the leader's yellow jersey Blair and Beckham lead UK's Olympic bid Arsenal striker Thierry Henry in China

Today's Top News     Top Sports News
After Beijing, see you in London         New Party chief starts mainland visit         Nanjing Massacre survivors found overseas         US targets Boeing over China technology         Hu arrives in Scotland for G8 summit         SARS vaccine trial runs smoothly to 2nd stage	London wins right to host 2012 Olympics       Gerrard explains Liverpool U-turn       McEwen snatches Tour sprint victory       Injured Davenport out of U.S. Fed Cup tie       Crespo is to return to Chelsea for next season       Horry to stay 3 years: Spurs reach agreement with shot-making veteran