The Stratford City development in east London took a further significant step forward today, when London & Continental Railways (LCR) and the Olympic Delivery Authority (ODA) announced an impressive shortlist of three bidders competing to deliver major elements of the £4 billion scheme.

The shortlisted candidates are:
Jones Lang LaSalle is managing the OJEU process for LCR and the ODA. There is also very close working with Stratford City Developments Limited (now wholly-owned by Westfield)

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• Bouygues, leading a consortium including Barratt Homes;
• Lend Lease, leading a consortium including East Thames Group, First Base and Crosby Homes; and
• Royal Bank of Scotland, leading a consortium including Bellway Homes, Gladedale and Kier.

The shortlist was drawn up following strong bidding through the OJEU process for delivery of the entire Stratford City scheme outside of Zone 1 (the retail-led development to the south of Stratford International to be developed by the Westfield Group). This includes the Olympic Village for the 2012 Games and the bulk of the scheme's legacy housing, commercial and hotel development.

Stephen Jordan, LCR managing director, said: "The creation of such a competitive shortlist demonstrates the high quality of the companies that responded. Cutting down from the long list was tough. However, after a thorough evaluation process, we believe that we have shortlisted three very credible candidates all of which bring a wealth of experience and resource to deliver this vital regeneration project and its important 2012 Games phases."

David Higgins, ODA Chief Executive, said: "Today's announcement of a shortlist of such capable candidates is good news for east London and for the Olympic Games and Paralympic Games. We are working together with our partners at LCR and with SCDL to ensure we remain on schedule to deliver these vital Games facilities. Stratford City will be a power for positive change, bringing improved job opportunities, homes and making the most of the greatly improved transport links now under construction."

The timetable will see:

• Appointment of the successful bidder in autumn 2006;
• construction to start on site in 2007; and
• completion of the Olynpic Village in good time for the 2012 Games.