Both firms will oversee separate blocks at the site near Canary Wharf which will contain 1,300 homes in the first phase.

Quintain will initially be in charge of the delivery of 500 homes where the affordable housing provision has been reduced from 38% to 25%.

The final Peninsula Quays development will contain 3,000 homes.

Quintain confirmed today: “Detailed planning applications are now being compiled regarding the first two blocks.

“We expect to submit these next summer and start construction after the Olympics, with the first occupants moving into Peninsula Quays in the spring of 2014”