According to a recent survey by DT Global Business Consulting, Russia stands out as the fastest growth market in the CEE region above Turkey and Poland.

When asked what their medium-term CEE priority markets are (executives could select three): 80% of regional managers chose Russia; 50% selected Poland; and 37% picked Turkey. Ukraine, Romania and Czech Republic followed. When asked in which markets they expect to hire staff in 2011, the responses were: 67% Russia; 41% Poland; 35% Turkey; and 30% Ukraine.

The report also concluded that while the construction industry along with real estate was savaged in 2009, by the end of 2010 there were the first reports of recovery to sustained levels of 4-9% growth.

Over the past year, an increase in activity has been recorded in the residential sector, mainly in the form of increased demand for housing and greater competition for land plots.

Very few new residential developments were commenced; instead, developers focused on the completion of ongoing projects. In 2011, the overall volume of spending on infrastructure development is expected to increase and this should result in improved support for such projects. The sector received a welcome boost with the decision to award the 2018 FIFA World Cup to Russia. Stadiums and airports in all the host cities will need to be either built or modernised, and adequate road and rail connections will need to be guaranteed.