London's bid to host the 2012 Olympic Games is a success. The IOC has announced that London has beaten Paris to the post – the two cities being the hot favourites for the event. The win is set to have a major impact on the city: housebuilders will undoubtedly benefit from the uplift to the economy and investment in infrastructure, particularly in the Thames Gateway. “Today’s news represents an incredible opportunity for London and the UK business community as whole," said Mary Reilly, chair of the London Development Agency. "In addition to the creation of thousands of jobs and new homes, the Games will bring a raft of business opportunities for British companies. From construction to hospitality, industries across the country will reap the benefits of the capital’s successful bid. “One of the biggest economic legacies of the Games will be the creation of wider employment opportunities and improvements in the education, skills and knowledge of the local labour force. Already the bid has led to closer partnership working across the five boroughs of Greenwich, Hackney, Newham, Tower Hamlets and Waltham Forest. Winning the Games will enable us to build on this and help deliver significant benefits in the field …