The country is one of Europe's fastest-growing markets for retail real estate development, now that both the Russian economy and its citizens are growing wealthier.

Moscow, which is Europe's biggest city, has begun attracting quite a few international retailers. Swedish furniture retailer IKEA is one of the latest to generate activity-the company recently opened its second outlet in southeast Moscow.

Another IKEA store is planned to open at the end of 2005.

Germany's Metro Cash & Carry is the second biggest retail chain in Russia in terms of revenue, generating 510 million euros in 2003, even though it has only 12 outlets in the country.

Only Russian retail chain Pyatyorochka ranked higher, bringing in $630 million from its 220 stores.