Trump Tower Australia Deal Collapses After 3 Months
Altus Property Group blamed the Trump brand’s falling popularity and a 140,000-signature petition, while Trump Organization cited unmet financial obligations.
- Plans for the $1.5 billion Trump Tower on the Gold Coast have been scrapped less than three months after the deal was made, with the Trump Organization citing unmet obligations by licensing partner Altus Property Group.
- Kimberly Benza, director of executive operations for the Trump Organization, claimed Altus failed to meet "most basic financial obligation," while Altus CEO David Young blamed the "toxic" Trump brand and Iran war for the collapse.
- The proposed 91-storey luxury hotel would have measured 335 meters, yet Gold Coast City Council confirmed no formal development application was ever submitted for the site.
- Gold Coast Mayor Tom Tate previously faced scrutiny for a Florida trip funded by the Trump Organization including Mar-a-Lago stays, and the site holds existing council approval for a separate 89-storey tower.
- Altus Property Group remains "looking forward to the future developing the Gold Coast's signature project" using other luxury brands, though the site owned by 3 Trickett Street Pty Ltd has remained vacant for over a decade.
51 Articles
51 Articles
A 91-story skyscraper was meant to change the Gold Coast skyline forever. Three months later, the project is history.
Australia Scraps Lavish 91-Storey Trump Tower After Developer Claims President Brand Has Become 'Toxic', 'Unpopular'
Plans to build Australia's first and tallest Trump Tower have collapsed just three months after the deal was signed, with the local developer citing the US president's sliding public standing and the Iran war as the reason. David Young, founder and CEO of Altus Property Group, told CNN in a statement that 'the Trump brand was increasingly unpopular in Australia,' pointing directly to the ongoing conflict with Iran as a turning point. The 91-stor…
Developer Scraps "Toxic" Trump Tower Australia
CNN reports: Plans to build Australia’s first Trump Tower have been scrapped just three months after it was announced, with the local developer saying the Trump brand has become “toxic.” “Let’s just say that with the Iran war and everything else, the Trump brand was increasingly unpopular in Australia,” David Young, CEO of Altus Property Group, told CNN in a statement. The 91-story Trump International Hotel & Tower Gold Coast was billed as Austr…
Australia was to receive its first Trump Tower, a luxury tower linked to the American president's family, Donald Trump, in a project valued at $1.09 billion (931.3 million euros), but three months after closing agreement with its partner for the construction of the tower, the project was cancelled. According to the newspaper ‘El País', the tower was planned for the Gold Coast and was intended to become the country's tallest building, with 340 me…
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