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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.
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75 Articles
75 Articles
A 91-story skyscraper should forever change the skyline of the Australian Gold Coast – and prove Trump's reputation in the world. Three months after the pompous announcement, the project is history – and it is disputed who is to blame.
·Vienna, Austria
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If it is to be built on behalf of the American President, it is the way Donald Trump is shaping his policy: in superlatives. A project on the Australian Gold Coast is now coming to the same fate as plans in Frankfurt or Stuttgart.
·Zürich, Switzerland
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The Gold Coast in Queensland, Australia, is known for its slightly trashy glitter. A Trump Tower would have fit perfectly, thought a building lion. However, the reaction on the spot was clear.
·Germany
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Total News Sources75
Leaning Left18Leaning Right11Center27Last UpdatedBias Distribution48% Center
Bias Distribution
- 48% of the sources are Center
48% Center
L 32%
C 48%
R 20%
Factuality
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