Trump’s $1.5 billion tower project in Australia canceled
Donald Trump, President of the US (photo: Getty Images)
The construction project for Australia's first Trump Tower skyscraper on the Gold Coast has been canceled less than three months after signing the agreement, according to Bloomberg.
The project in question was the 91-story Trump International Hotel & Tower Gold Coast, planned for the Surfers Paradise area in Queensland. The project was valued at nearly 1.5 billion Australian dollars. The tower was expected to become the tallest building in Australia.
The developer was the Australian company Altus Property Group, which signed an agreement with The Trump Organization in Florida in February. The complex was planned to include a six-star hotel, around 270 luxury apartments, restaurants, shops, a beach club, and swimming pools.
Trump brand becomes "toxic"
However, the parties' cooperation has now been terminated. Altus Property Group head David Young stated that the Trump brand has become toxic in Australia amid the war over Iran and the political situation in the United States. According to him, this affected the project's prospects and public perception.
The Trump Organization, for its part, claimed that the Australian developer allegedly failed to fulfill certain contractual obligations. Meanwhile, Altus asserts that the skyscraper project has not been definitively canceled and that the company is considering collaborating with other luxury brands.
Construction was planned to begin as early as August 2026, but the project never received official approval from local authorities. At the time the partnership was canceled, the developer had not yet submitted a full construction application to the Gold Coast City Council.
After the project was announced, a large-scale public discussion emerged in Australia. An online petition against the construction of Trump Tower appeared in the country, gathering over 120,000 signatures. Some residents and local politicians criticized the idea of a Trump-branded facility amid US international policy.
For reference, a US court allowed President Donald Trump to proceed with the construction of a $400 million ballroom at the White House.
