Despite months of polling predicting a landslide victory for Labour Party's Sadiq Khan in the London mayoral election, Mr Khan only edged out the relatively unknown London Assembly Member by a margin of 40 per cent to 35.3 per cent in the first round of London's preferential voting system. Turnout was lower than at the previous election, at 42 percent.
The overnight tally showed Khan won 39% of first preference votes with Bailey winning 37%.
"I am deeply humbled by the trust Londoners have placed in me to continue leading the greatest city on earth", Khan said, who focused his campaign on creating jobs in the city of nine million.
"It's in this spirit that I promise to lead London over the next three years, building bridges between the different communities in our city, building bridges across cultural, social, and class divides", he added.
Candidates have been told by officials not to arrive at City Hall for the results before 8pm.
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He said he wanted "to ensure London can play its part in a national recovery" and to "build a brighter greener and more equal future" for the capital.
"As I went through these, for me what was two years of campaigning, one feeling felt familiar to me, one challenge had always felt the same", he said.
In an opinion piece written for the Guardian in 2019, Khan criticized his own party over the issue, writing, "It's devastating that so many Jewish people now feel that Labour - a party that should be their natural home - does not have their best interests at heart, and worse, seems to them to be unwilling to tackle the scourge of antisemitism within".
"It would not be reasonable to not want the benefits of the Olympic Games in London in 2036 or 2040", said Khan, 50, who started as a favorite in the polls to vote. Green Party candidate Sian Berry was in third place with 8%.
While a comfortable majority, it was less than Khan's 2016 results - which the BBC described on Sunday as the "record-setting vote total" of 1,310,143, which translated into 56.8 per cent and a 315,529-vote majority over his main rival, Conservative Zac Goldsmith.
The human rights lawyer-turned-politician became the first Muslim mayor of a major European capital.