Not to be outdone by their oil-rich colleagues in the Middle East, semi-oil rich Russia is now creating its own Slavic version of Dubai’s The World complex.
The World, as you might remember, is a manmade archipelago fashioned in the shape of our planet. The Russian version is slightly more nationalistic in scope and will be designed in the shape of Russia itself.
Federation Island, as it is expected to be called, will be located off the coast of Sochi, the future site of the 2014 Winter Olympics. Although the nearby mountains are a wonderful winter paradise, the beaches they overlook are Russia’s most famous and beloved. The 6.2 billion dollar investment in Federation Island hopes to capture some of that sentiment and become a second home to Russia’s upper class and deep-pocketed tourists–especially those visiting for the Olympics in 2014 when the project is expected to be completed.
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