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
2012 Summer Olympic development 2012 Summer Olympic development The 2012 Summer Olympic development process began in 2005, following the successful London bid for the 2012 Summer Olympics, and ran until the games in 2012. While many of the plans were included in the bid portfolio, which gained the favour of the International Olympic Committee (IOC) over the four other bids on 6 July 2005, there were more details released and decisions made afterwards. The London Organising Committee of the Olympic Games and Paralympic Games (LOCOG) was created to oversee many of these developments, though such a large-scale event requires the co-operation of many other