The Trump family has withdrawn from a $1.2 billion agreement to construct a Trump Tower on the Gold Coast, though they have not abandoned ambitions to establish a supertower in Australia. The Trump Organization separated from Australian developer Altus Property Group just three months after signing the deal at President Donald Trump's Mar-a-Lago estate.
Reasons for the Split
A Trump family spokesperson stated that Altus failed to fulfill its obligations, while Altus boss David Young commented that the writing was on the wall. The spokesperson expressed disappointment but looked forward to exploring other projects in Australia. Young, who gained significant publicity from the venture, plans to continue developing the prime Surfers Paradise beachfront site, describing the departure as pure business.
Developer's Perspective
Young noted that the Trump brand has become toxic in Australia due to recent events, and he has been in discussions with other luxury brands. He emphasized that there is no acrimony with the Trump family and that his team will complete the project with a high-end brand.
Trump Organization's Response
A Trump Organization spokeswoman rejected Young's claims about the brand being toxic, attributing the termination to empty promises. She stated that Young's attempt to blame world events was a distraction from his defaults.
Project Details
The $1.2 billion project, announced in February, was planned for a beachfront site on Trickett Street. Eric Trump had said it would include a 285-room hotel, 272 luxury units, and an exclusive beach club. The tower, at 335 meters, would have been Australia's tallest skyscraper. However, no development application was lodged with the council.
Site History
The site had previously been intended for the failed Spirit tower, an 89-storey luxury residential block. Macau casino operator Loi Keong Kuong purchased it for $56.5 million in 2019 after the Spirit project collapsed.
Public Reaction
Gold Coast worker Jordan Quoc-Tien Hoai Nguyen started a petition supporting the Trump Tower in January, arguing it would create jobs for a vacant site that had become a symbol of delay. However, opposition was strong, with over 140,000 signatures on four petitions to block the development. GetUp activist David Sharaz boasted about his petition's role, but journalist Peter Ford countered that the Trumps would not have cared about petitions, noting the developer did not even own the land.
The Gold Coast has faced issues with vacant land and rundown buildings, as reported in January 2025.
