With the 2014 Winter Olympic Games at Sochi, Russia still over 6 years away, the city's planning committee isn't wasting any time... they've asked a consortium of Japanese companies to help build a massive 350-hectare island complex - shaped like Russia - in the Black Sea to house Olympic athletes.
Since Sochi won the right to host the 22nd Winter Olympics, property prices have risen as much as 40 percent, making the estimated $6.2 billion cost of "Federation Island" seem like a very good investment. Post-games plans for the group of 10 artificial islands include apartments and villas for up to 25,000 residents.
The project is seen by both Russia and Japan as a unique way of improving relations between the two nations. "Japan's participation and their technology is particularly interesting to Russia," stated Aslan Atabiyev, head of the Russian-Japanese business council in Tokyo recently. Japanese construction firms have earned an international reputation for building in earthquake prone areas, and the Sochi region in southern Russia does indeed have a "shaky" history.
The project will also provide much-needed work for Japanese builders hurt by the country's lingering economic doldrums and reduced government spending on public works projects. (via Trendhunter and Moldova.org)
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