Officials from site owners London & Continental Railways and the Olympic Delivery Authority say the winning bidder will start work next year. The Lend Lease consortium includes East Thames Group, First Base and Crosby Homes while Bouygues, the world's second-largest construction company, has teamed up with UK homebuilder Barratt Developments.

LCR managing director Stephen Jordan says the shortlist demonstrates the high quality of the companies that put in bids. "Cutting down from the long list was tough," Jordan comments. "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 resources."

ODA chief executive David Higgins says the authority is working with its partners to make sure the construction remains on schedule.