MRP INTERNATIONAL APPOINTS CUSHMAN WAKEFIELD ON TRUMP TOWERS RIO - Cushman & Wakefield

MRP INTERNATIONAL APPOINTS CUSHMAN WAKEFIELD ON TRUMP TOWERS RIO

The consortium developing Trump Towers Rio, coordinated by MRP International, has appointed Cushman & Wakefield as exclusive leasing agent for this office complex in the Porto Maravilha area of Rio de Janeiro. Trump Towers Rio will mark the arrival of the Trump brand in Brazil and will be largest ever urban office development in the BRIC countries.

The project is being developed by MRP International, premier international developer of commercial properties; Even, one of the largest listed Brazilian developers and Salamanca Capital, London based merchant bankers, with branding partner The Trump Organization.

Located in the port region of the City, Trump Towers Rio will be constructed on a land plot of 32,000 sq m on one of the main arteries in the center of Rio de Janeiro - Avenida Francisco Bicalho. The completed development will comprise five 150 meter high skyscrapers with 38 floors, 322,000 sq m of office space and total built area of about 450,000 sq m. The first phase scheduled for completion in 2016 will comprise two towers each with a gross leasable area of 55,000 sq m.

The project was launched in December 2012 with the support of the City Hall and State and Federal Governments. The office project is being marketed by international property consultants Cushman & Wakefield.

Stefan Ivanov, CEO of MRP International in Brazil explained: "Trump Towers Rio will certainly be the nucleus of Porto Maravilha which will become the new and dynamic central business district of Rio de Janeiro. The unrivalled qualities of Trump Towers Rio including its innovative design, large scale and internationally recognized Trump brand, will appeal to leading domestic and international organizations who are looking to secure world class office space in a landmark building at the centre of this rapidly growing economy. We are delighted to have Cushman & Wakefield on board as leasing agents as we believe they have the breadth of expertise and global reach needed for a leasing project of this scale and significance."

"Brazil is an extremely important market for us and one that I have been looking forward to entering into. I believe that with the demand for the Trump brand coupled with the unparalleled location and highly advanced design, there will be nothing like this in Brazil and beyond", says Donald Trump.

Peter Victor, Head of the International Desk in London at Cushman & Wakefield, said: "Trump Towers Rio will soon be known as the top corporate address in Brazil. MRP has brought together three key ingredients for success: a prime location in the heart of the city, world class design incorporating all the office tower characteristics sought after by international corporate occupiers and the Trump brand, one of the most well respected world-wide. We are delighted to be involved and look forward to helping ensure the success of this spectacular project."

Marina Cury head of leasing at Cushman & Wakefield in Rio de Janeiro said: "The real estate market in Rio de Janeiro is experiencing an exciting phase of renewal and growth particularly the revitalization of the Port region and development of Trump Towers Rio. This is an unprecedented project which will undoubtedly be a great success and we are honored and very motivated to have been appointed to lease this landmark building in Latin America."

Trump Towers Rio will benefit from excellent connectivity via Avenida Francisco Bicalho and other major city arteries with the two airports, the tunnels to the South Zone of Ipanema and Leblon, the old central business district and the bridge to Niteroi. The future TAV (bullet-train) station as well as the stops of the new VLT (light rail vehicle) and the Metro are also in close proximity to the development.

The regeneration of the Port Region of Rio de Janeiro, named Porto Maravilha or Marvelous Port integrates and revitalizes an area of 5 million square meters between Avenues Presidente Vargas, Rodrigues Alves, Rio Branco and Francisco Bicalho. Promoted by the City Hall, with the support from the State and Federal Governments, this project scheduled for completion in 2015 includes the demolition of the elevated highway Perimetral (4km), construction of 4 km of tunnels, re-pavement of 70 km of streets and 650,000 sq m of sidewalks, reconstruction of 700 km of networks of urban infrastructure (water, sewer, drainage), building of 26 km of tracks for the new light rail vehicle and 17 km of bike lanes, implementation of broadband, etc. With the advancement of Porto Maravilha, the region will be prepared for increasing its population of 30 thousand to 100 thousand in 10 years. FII PM of Caixa is funding those structural changes in the region through the investment of 8 billion reais (circa 4 billion US dollars), which are expected to be more than recovered from their participation in private sector property projects in Porto Maravilha such as Trump Tower Rio.