The BBC's Russian website has an intriguing article about a project so crazy it just might come to fruition. A Dutch architect has proposed to create "Federation Island," a 9 billion Euro project that has been signed off on by Krasnodar Krai governor Tkachev, although German Gref said, after the project was presented at the Sochi-2007 forum, that money hadn't been allocated for it just yet.
This idea is, of course, an obvious crib from Dubai's "World" project, which at 300 man-made islands is much bigger than the 15-20 which seem to be involved in the proposal for Sochi. Anyway, it will be intriguing to see whether this project moves forward - if it does, count on Western journalists making (not entirely unwarranted) comparisons between Dubai and Russia - petrostates on the move, shaping the environment to meet the needs of their highest-end real estate buyers.
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