Saint Petersburg was founded in 1703 by Peter I. The whole city was built above a swamp and required a vast amount of slaves. The city centre was built along two centuries and has remained mostly as it was over 100 years ago. Saint Petersburg has a rich and powerful history as the capital of Russian Federation from 1709 to the foundation of Soviet Union in 1922. Saint Petersburg has raised and captivated large amount of artists, writers, musicians and scientists. It has lost its economical top position to Moscow, but it is still considered the cultural centre of Russia. Historical city centre is left as a proof of gone glory of the city and Russia. New wave of residential developments are concentrated around the city centre as the Russia's new wave of rich people settle into the city.