Author: Antonio Guerrero

TRUMP TO BUILD OFFICE TOWERS IN REDEVELOPED RIO PORT


By Antonio Guerrero


New York billionaire investor Donald Trump will launch Trump Towers Rio, his first Brazilian venture, with an estimated $4 billion investment.

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The complex of five 38-story office towers will be situated in the city’s port area, which is undergoing major redevelopment ahead of the 2014 FIFA World Cup and 2016 Olympic Games. The Trump organization says the complex is Brazil’s largest commercial development and one of the world’s largest urban office projects. Trump is developing the site through a partnership with MRP International, a UK real-estate investment firm; Even Construtora e Incorporadora, a Brazilian construction company; and Salamanca Group, an investment services firm based in Cyprus and the UK.

After six consecutive years of increasing car sales, Brazil became the world’s fourth-largest car market in 2012, behind the US, China and Japan. Anfavea, Brazil’s National Association of Motor Vehicle Manufacturers, reported a 4.6% year-on-year rise in 2012 car sales, to 3.8 million vehicles, and predicts another 3.5% to 4.5% in sales growth for this year. Volkswagen led the sales boom, with its Gol model remaining the country’s best-selling car for the 26th year.