Perhaps taking a cue from the developers of the World in Dubai, Russian developers have announced that they are creating an artificial island in the shape of Russia in the Black Sea. Federation Island will be located off the coast of the future Olympic venue Sochi. The island, which will have marinas, artificial rivers and apartments and villas to house 25,000 is planned to be completed in time for the 2014 Winter Olympics in Sochi. Dutch architect Erick van Egeraat is designing the project and it is expected to cast around $6.2 billion.