Britons and former bond traders Michael Pennington and Simon Crookall -- having moved abroad themselves in the past -- set it up as a way of connecting people who are planning to move, or who have just arrived in the city, and need help getting started with accommodation, employment and social opportunities.
Mr Paes wants to revamp the seedy port area by getting private developers to build accommodation there for the 20, 000 journalists who will cover the games.
Mr Forbes claimed the changes would not make the predicted savings because "the logical economic choice for a tenant who's getting the bedroom tax imposed on them is to move to more expensive, smaller private sector accommodation".