London bid for the 2012 Summer Olympics being selected by the International Olympic Committee (IOC) when put up against other world cities in a competitive bidding process. On 6 July 2005 at its 117th Session in Singapore, the IOC awarded London the right to host the Games of the XXX Olympiad. The city beat the favourite Paris 54 to 50 on the fourth and final ballot. London is the first city to host the Games three times. At the time of the bid, the budget projection was around £2 billion, but it was later estimated that the true cost would be around £9 billion. The project involved
Cyprus Olympic Committee that coordinate all aspects of their individual sports. They are responsible for training, competition and development of their sports. There are currently 29 Olympic Summer and two Winter Sport Federations in Cyprus. The Olympic House, headquarters of the COC, opened in September 16, 2006 in a ceremony attended by the then President of the Republic of Cyprus Tassos Papadopoulos and president of the IOC Jacques Rogge. The three-story building houses almost every sporting federations of the island, including sports which aren’t on the Olympic schedule. The Olympic House covers an area of 7500 m2 and cost 5,63 million Cyprus pounds.