Construction of the Olympic stadium for the 2012 London Games started on Thursday in the presence of British Prime Minister Gordon Brown and members of the International Olympic Committee, according to dpa. The first foundations were laid for the 80,000-seat stadium in eastern London's Olympic Park ahead of the original schedule. This allowed the IOC co-ordination committee chaired by Denis Oswald to be present on the final day of its latest three-day inspection tour. "The early start to building work on the Olympic Park site is good news, taking us another step closer to 2012," said Brown. "I have no doubt that the construction of the new permanent venues, infrastructure and transport links within the largest new urban park to be created in Europe for 150 years will be a catalyst for lasting social and economic change in east London." The Olympic stadium will offer 80,000 seats for the Games, but 55,000 are temporary as the stadium will later be converted to a 25,000-seat athletics stadium. Its construction costs almost one billion dollars (630 million euros) and the arena is to be completed in 2011. Oswald expressed his satisfaction about the latest inspection tour in London. "The Commission has been greatly impressed by the quality and speed with which LOCOG and its partners have been able to progress since our last visit. "The most visible element is obviously venue construction, and the progress made on the Olympic Park, in particular, is truly astounding," he said. Over the three days the commission met with Brown, Olympic Minister Tessa Jowell, the newly elected London mayor Boris Johnson and other politicians and Olympic officials. Oswald urged London to closely follow the upcoming Beijing Games before the focus will be entirely on 2012 once Johnson receives the Olympic flag at the August 26 closing ceremony in China. "It will mark the point when the world's attention will turn to London as the next host of the summer Olympic Games. I would encourage LOCOG and its partners to take full advantage of the learning opportunity that the Beijing Games present because it will be invaluable to its own planning. "I have no doubt that London 2012 will learn the lessons it needs to in order to present spectacular Games in 2012," Oswald said.