The attached image shows how the first two tower cranes have been erected on site prior to commencing work on the superstructure later this year.

ODA Chief Executive David Higgins said: 'We continue to make good progress on the Olympic Village with piling now complete on the first three blocks. This maintains momentum as we work hard to resolve the long-term funding arrangements over the coming months.'

The ODA also responded to speculation in the media that discussions are taking place with the Qatar Investment Authority with regards to investment in the Olympic Village in Stratford.

ODA Chief Executive David Higgins said: 'There continues to be a wide range of speculation about the Olympic Village but we have consistently said we remain committed to continuing our discussions with Lend Lease, banks and Registered Social Landlords on the long-term financing of the project. We have been given approval by the Government to continue these discussions.

'Neither the Qatar Investment Authority nor Chelsfield Partners, in which the Qatar Investment Authority owns a stake, have any involvement in the discussions regarding the funding of the Olympic Village.'

– Ends –

For further information please contact the Olympic Delivery Authority Press Office on +44 (0)203 2012 700.

The construction of the venues and infrastructure of the London 2012 Games is funded by the National Lottery through the Olympic Lottery Distributor, The Department for Culture, Media and Sport, the Mayor of London and the London Development Agency.

Find out the latest from London 2012 HQ on our blog.