It may spell the final victory of capitalism in Russia when a planned millionaires' township comes up along the Moscow River.

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The $3 billion town of Rublyovo-Arkhangelskoye, which is due to start next year, will house some 30,000 residents and is expected to be almost twice the size of Monaco, the BBC reports.

The township will have all the trappings of the rich including luxurious villas, a clinic, bars, sports facilities, a school and a marina on the Moscow River. The project is financed by Nafta Moskva Co.

"Building elite apartments outside an industrial metropolis reflects a new tendency favored by buyers," said Michael Belton, CEO of the project's developer, CMI Development.

The "millionaires' town" two miles west of Moscow will have good transport links to the capital, and offer "a uniquely European feel," say the project's British architects, John Thompson and Partners.