Australia has scrapped plans to build a Trump Tower — Bloomberg
The project for Australia’s first Trump Tower skyscraper, valued at approximately $1.5 billion, was officially canceled less than three months after the agreement was signed. Construction was planned for the Gold Coast, but the project has been halted.
This was reported by Bloomberg.
The project in question is the 91-story Trump International Hotel & Tower Gold Coast complex, which was planned for the Surfers Paradise area in the state of Queensland. The project was valued at nearly 1.5 billion Australian dollars. The tower was expected to become Australia’s tallest building.
The developer was the Australian company Altus Property Group, which signed an agreement with The Trump Organization in Florida in February. The complex was to house a six-star hotel, about 270 luxury apartments, restaurants, shops, a beach club, and swimming pools.
However, the partnership has now been terminated. David Young, CEO of Altus Property Group, stated that the Trump brand had become “toxic” in Australia amid the conflict over Iran and the political situation in the U.S. According to him, this affected the project’s prospects and public sentiment.
The Trump Organization, for its part, claimed that the Australian developer allegedly failed to fulfill some of its contractual obligations. Meanwhile, Altus asserts that the skyscraper project itself has not been definitively canceled and that the company is considering partnerships with other luxury brands.
It is known that construction was scheduled to begin as early as August 2026, but the project never received official approval from local authorities. At the time the partnership was dissolved, the developer had not yet submitted a full building application to the Gold Coast City Council.
After the project was announced in Australia, a large-scale public debate ensued. An online petition against the construction of Trump Tower was launched in the country, gathering over 120,000 signatures. Some residents and local politicians criticized the idea of a Trump-branded building against the backdrop of U.S. foreign policy.
As a reminder: Trump deniesthat the war with Iran is over and announces new objectives.
Britain has called on Iran to fully open the Strait of Hormuz and restore international shipping, which has been operating intermittently since the situation escalated.
Recall that Israeli Prime Minister Benjamin Netanyahu does not consider the war with Iran to be over.
Official Tehran has refused to participate in the second round of peace talks with the United States, which were to take place in Islamabad.
Iran rejected Trump’s claims about transferring uranium to the U.S. and accused him of manipulation.
