Located 50 km from Moscow, the proposed resort features multiple theme parks, water parks, beach resort hotels, retail developments and live entertainment.

Phase one is set to include the creation of Park Russia, a theme park promoting the heritage, folklore, culture and achievements of the country, as well as St Petersburg Street, a 2 km long retail and entertainment destination.

It also includes the creation of a theme park for children aged two to eight; two aqua parks; and three hotels.

Phase two will see development of a theme park focused on extreme sports; a 3,000-seat amphitheatre; and the educational Nanopolis Children’s Park.

David Camp, London-based head of Aecom’s European economics team, said: ‘Russia is a major untapped market as a theme park destination.

‘This is an exciting and ambitious project and we are delighted to be involved.’

UK architects will be watching the scheme’s development closely for opportunities to get involved as the Russian market continues to hold up well.

A report from professional services firm Jones Lang Lasalle this summer said property investment in Russia was expected to remain above pre-economic crisis levels in 2012.

Matt Fairman of Assembly Studios said in May: ‘Some of our bigger clients have recently approached us a few times to suggest UK architects and designers that may prove a good fit for various new projects around Moscow and Ukraine.’