Work completed on basketball arena for London 2012

Construction on the 12,000-seat basketball arena for 2012 Olympics in London has been completed, just 15 months after building work began.

The stadium became the fourth venue on the Olympic Park to be finished, on budget and in time for the first test event to be held on the site in August.

"As ... one of the quickest to finish construction, the Basketball Arena is another milestone for the Olympic Park 'Big Build,"' said Dennis Hone, chief executive of the Olympic Delivery Authority, on Thursday.

It will host men's and women's group matches in the basketball competition, as well as the women's quarterfinals. The rest of the knockout stages will be held in the O2 Arena in the southwest of the city.

The stadium will also host handball matches during London 2012.

The distinctive white arena, which at 35 meters high is one of the largest temporary venues used for an Olympics, will be dismantled after the games.

"Basketball is one of the most popular Olympic sports and spectators will be able to see the game played out in spectacular surroundings," said Sebastian Coe, chairman of the London Organizing Committee. "It is a superb venue which will be the center of some of the best team action during the London 2012 Olympic Games."

The test event will be the London International Basketball Invitational, held from Aug. 16-21 and featuring men's teams from Britain, Australia, China, Croatia, France and Serbia.