Located in the communes of Saint-Denis, L'Île-Saint-Denis and Saint-Ouen-sur-Seine and close to the Stade de France, the Village is expected to house 14,500 athletes and staff during the Olympics and 9,000 during the Paralympics.

It is then due to be converted into accommodation for 6,000 residents in 2025.

An initial estimate of €1.3 billion ($1.1 billion/$1.4 billion) was provided for the Village, and Thobois claimed that the project is on track.

"Most of my colleagues in the past were stressed about the delivery of the infrastructures," he said, as reported by Reuters.

"I must say I'm not on that side with Paris 2024.

"I'm very cool and serene, we will deliver on time and on budget.

"We will take over the Village one year from now.

"The construction will be finished in January and the Village will be fully delivered in March."

Thobois also vowed that organisers would deliver on their goal "to build a neighbourhood that would be used as an Olympic Village, not the other way around".

Solideo is the company responsible for Paris 2024 building works, and its director general Nicolas Ferrand insisted "since 2017, our budget has remained the same in constant euros".

The Olympic and Paralympic Village construction site had its power cut earlier this month by protestors demonstrating against the French Government's controversial plan to raise the retirement age from 62 to 64.

No air conditioning is planned for the Village in a move that some delegations are concerned about in the event of a heatwave.

However, Paris Mayor Anne Hidalgo has defended the move to reduce the environmental impact of the Games with the Village designed to cool using geothermal energy.

It has also been claimed that the site next to the River Seine means the Village will benefit from its cooling impact.

The Olympic Games are scheduled for July 26 to August 11 next year, followed by the Paralympics from August 28 to September 8.