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Controversial plans for a $1.5 billion Trump Tower on the Gold Coast have been scrapped less than three months after a deal was signed.
The 285-room luxury hotel proposed for Surfers Paradise would have been Australia’s tallest building, soaring 91 storeys above the glitter strip.
Altus Property Group chief executive and founder David Young rebuffed claims the Trump Organisation had pulled out of the project because the development company had not met its obligations.
“Let’s just say that with the Iran war and everything else, the Trump brand was increasingly toxic in Australia,” Young said in a statement.
“Some time ago we knew it was time to part company.
“It was not about not meeting obligations. There are other luxury brand options for us. The project is live.”
Meanwhile, Gold Coast Mayor Tom Tate confirmed the council had not yet received a development application for the site.
“This project was an agreement between two private parties. No application had been submitted to council so we didn’t have a proposal to consider,” he said in a statement.
