According to constructiondigital.com, Russian President Dmitry Medvedev fears that Russia's construction plans for the 2012 Asia-Pacific Economic Cooperation (APEC) Summit may face delays. Russia has been undergoing several construction projects in preparation for the APEC Summit, the first of many world events that the country will be hosting in the next decade. The country will also be hosting the 2014 Winter Olympics, a Formula 1 car race in 2015, the 2016 Ice Hockey World Championship, and the 2018 World Cup. The Russian government has committed 662.9 billion rubles ($23.8 billion USD) for construction projects on the surround infrastructure around the island and the nearby city of Vladivostok. The 150 year-old city is home to a population of 616,740 citizens. As reported by kommersant.ru, during presidents official visit to island Russky was found that for a year before summit, in Vladivostok are ready only 20 percent of planned five-star hotels and this 20 percent represent a pair of concrete skeletons. Medvedev has ordered Russian officials to design a backup plan in case a suspension bridge being built on the island isn't prepared in time. Another bridge currently under construction over Vladivostok's Golden Horn Bay may also be as much as a full year behind schedule. Over 26,000 workers are involved in the construction projects on different facilities, including more than 11,000 foreign citizens. For a year before in island only 53.7 percent of construction projects were ready. The whole project includes over 96 buildings and only 6 of it were put into operation. Construction of 69 buildings is anderway and 13 are in the plannig stage, another 6 didn't even begain to design, marked kommersant.ru. Despite of all this delays, during his official visit Russian President Dmitry Medvedev summed up - '' one may long to adjust deadlines for construction objects. However, the APEC summit will open on September 1, 2012, and this date can't be moved''. Russia was awarded the role as host for the APEC Summit during the group's 2007 meeting in Sydney, during the second term of then-President Putin who sought to increase the country's role with other Asian countries. Last year, China became Russia's top trading partner with trade jumping by 50 percent to $59 billion.

As reported by Regnum news agency, according to A-Realty Group real estate agency, the cost per square meter in the center of Moscow is reaching half a million rubles ($18,000). The average price per square meter in the center has reached 412 thousand rubles ($14,800) in April and an average cost of luxury apartments has already run up to 56 million rubles ($2,000,000). In total, there are 2.6 thousand flats offered for sale in the center of Moscow today. Average price per square meter for economy-class apartments is 197 thousand rubles ($7,000) in the center of Moscow, for business-class apartments - 258 thousand rubles ($9,250), and for luxury apartments is 475 thousand rubles ($17,000). The price for studios (with an average area of 34.4 square meters) in city center is 7.7 million rubles ($280.000) and one-bedroom apartments are sold for 13.4 million rubles ($480,000), while an average area of these flats is 54 square meters. Two-bedroom apartments in Moscow cost 18.8 million rubles ($670,000), and an average area of these apartments is 76 square meters. Overview of real estate market in the categories of the cheapest and the most expensive apartments shows that the cheapest apartment is sold for 5.4 million rubles ($193,500), and the most expensive one for 923 million rubles ($33,000,000). Apartments in luxury new developments are offered by 714 thousand rubles ($25,550) per square meter. The most expensive luxury apartment is proposed for 1 million 112 thousand rubles ($39,800) per square meter.

When it came to advertise a new luxury apartment complex in Moscow, developer-billionaire Vladislav Doronin looked no further than the woman living next to him-supermodel Naomi Campbell! She has appeared in a TV commercial for the luxury apartment complex "Legend Of Tsvetnoy" in Moscow, developed by Capital Group, that is owned by her Russian boyfriend. Naomi really does her best to shift this exclusive property and a 60-second ad was enough for working out in the fully equipped gym and then taking a dip in the swimming pool, have a dinner in a restaurant and come back to the apartment with a panoramic views over Moscow city. The advert finishes with Naomi breathing the lines: "I listen to your heart, Moscow. Now you know where I stay". Indeed, for those who do not know where and with whom is the "black pearl", we report; in early 2008 Naomi Campbell met with Vladislav Doronin at the Cannes Film Festival, and they soon began dating. Wedding of Naomi and Vladislav was to be held in August 2009, however, the billionaire is having difficulties with the divorce ... Together with her lover Naomi Campbell has settled in Russia, while Ekaterina,( Doronin's wife), lives in London. According to "GQ" magazine, in the ranking of the most stylish men of Russia in 2009, the billionaire took second place, and according to Building.ru, he entered the top ten list of the most professional developers of Russia. To date, Doronin's assets are estimated at nearly two billion dollars, although data from different sources considerably vary - from one to six billion.