MOSCOW - Russia has spent some 9.5 billion roubles ($300 million) on removal compensation and house construction for residents living in the "Olympic areas" of Sochi, regional authorities said on Tuesday.

Russian government has built 482 new private houses and 518 apartments with the total area of more than 100,000 square meters for those who need to relocate themselves in the Olympic construction areas, deputy head of the Krasnodar region administration Alexander Saurin said during a meeting of the public council for the 2014 Olympic Games.

The resettlement involved some 3,000 owners, renters and lessees of apartments in the Olympic construction zone, Itar-Tass news agency reported.

The total compensation they would receive for moving out accounted for 18.5 billion roubles ($587 million), Saurin said.

The International Olympic Committee (IOC) said early October the preparations for the 2014 Winter Olympic Games in Sochi were "impeccable".

Under the theme of "Hot. Cool. Yours.", the Sochi Olympics will be opened on Feb 7, 2014 and run until Feb 23. The Games will feature 98 medal events, which is 12 more than those of the 2010 Winter Olympics in Vancouver, Canada.

In winter 2012-2013, a series of test competitions will be held in the Olympics venues.