|
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".
|
 | | | 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 |
|
|
|
|
|
|
|
|
|
