Olympic Preparations Spur Private Building Boom in Russian Resort City

Construction is underway to prepare the Russian resort city of Sochi for its hosting of the 2014 Winter Olympics. But it's not just venues for the games that are being built.

A building boom is underway, as developers seek to benefit from the increased visibility of what was once a fairly unknown resort area.

"The most remarkable projects are the construction of Formula-1 track and the Sochi-park entertainment complex, which will be similar to Disneyland. It is also expected that six Sport palaces, a media center, hotels and other facilities will be completed by 2013.

800 specialists who came to Sochi mainly from different regions of Russia are working in around o'clock regime. So far no delays in construction have been reported. For the first time not only in Russia but in the world the construction is being carried out in line with the environmental requirements with the use of latest green technologies, Timur Manzhitov, the head of the Sochi department of the Ingeokom construction company says."

Full Story: The Olympic construction in full swing

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