The International Olympic Committee(IOC) today formally opened its new headquarters in Lausanne, Switzerland, exactly 125 years after the Olympic Games were revived. 

The new headquarters costs 145 million US Dollars. Inaugurating the building, the  IOC President,  Thomas Bach,  described the founder of the International Olympic Committee,   Pierre de Coubertin, as a great visionary.

 Bach said, by bringing the entire world together in peaceful competition, the Olympic Games are a symbol of hope and peace for all humankind. Bach said, the rooftop takes the shape of a dove which is another universal symbol of peace.

The Olympic House has been built on the site of the former headquarters, and 95 per cent of the old materials were reused and recycled. 

The signature feature is a central staircase linking together the five Olympic rings. Designed by architecture firm 3XN of Denmark, the energy-efficient building has won international awards for sustainability. 

Renewable energy is provided using solar panels on the roof and pumps taking water from Lake Geneva.