Olympics: Rio mayor bets big on broken-down port area
Rio de Janeiro
MARCOS Vieira had a front-row seat for the biggest piece of Rio de Janeiro's pre-Olympic facelift: razing the elevated highway that ran past his office. He now has a clear view of the cruise ships pulling into port. In a few years, he will see office buildings and museums, bike trails and pedestrians. So far so good - "you see a fantastic aesthetic advance", says Mr Vieira, vice-president of the Portela samba school and a military policeman.
The road's removal is central to Mayor Eduardo Paes's 8.2 billion reals (S$3.9 billion) bid to emulate cities such as Boston and Barcelona by renovating seedy waterfronts. He faces a tight deadline - the 2016…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
DBS puts 46 retail units, HDB shops on market for S$210 million
US mortgage rates jump above 7% for the first time this year
Far East Shopping Centre back on market at unchanged S$928 million asking price
London mansions sold at 30% discount spell gloom for luxury market
Delfi Orchard up for collective sale at S$438 million guide price
US existing home sales drop in March; median price increases