Rio's property bubble bursts with buildings vacant and rents down
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Rio de Janeiro
AT opposite ends of downtown Rio de Janeiro, projects tied to Donald Trump and Eike Batista - one a billionaire-turned-politician, the other Brazil's most famous ex-billionaire - have come to represent the city's real estate bust.
The 23-storey Serrador building, a granite-and-glass art deco tower near Rio's Santos Dumont airport, has sat empty since Mr Batista's failed empire of commodities companies abandoned it last year. Four miles away, in the city's gritty port district, an ambitious office project that Mr Trump lent his name to is still nothing more than a weed-filled lot about a year after construction was slated to begin.
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