A visualization of Trump Tower in Gold Coast, Australia.Image: Altus Property Group
A magnificent Trump Tower was actually supposed to be built in the Australian city of Gold Coast. But the $1.5 billion project failed. The property developer describes the Trump Organization as “toxic.” She rejects the blame on her construction partner.
May 13, 2026, 3:11 p.mMay 13, 2026, 3:11 p.m
A fierce dispute has broken out over the planned Trump Tower in Gold Coast in the Australian state of Queensland. The construction project was sealed in Mar-a-Lago in February. Accordingly, the building contractor David Young, managing director of the Altus Property Group, wanted to work with the Trump Organization, reports Guardian.
But now the plans are already being buried again, as they say. The parties blame each other. While the contractor says the Trump brand is too “toxic” to work with, the organization says the Australian company has made “empty promises.”
Young explained in a Linkedin post that he withdrew, not the other way around. The brand has become “too toxic for Australians with the Iran war”. It is a business decision. Young also explained that his team felt the time was right to end the collaboration because of the Iran war.
The Trump Organization says that the Altus company did not keep its part of the financial agreements, even though they were very excited about the project. “Mr. Young’s attempt to blame certain global events for the end of the agreement is simply a ploy to distract from his own shortcomings and failures.” Young is said to have filed for bankruptcy twice in the past. However, these cases have nothing to do with it, says Altus.
The project would have cost around $1.5 billion. Eric Trump, the son of the US President, announced that it would be the tallest building in Australia. This would have been an attractive deal for the building contractor. He now wants to continue building high-rise buildings, simply with other brands. The Trump Organization is also sticking to plans to build a high-rise building in Australia. However, the city says a building application has not yet been submitted. (front)
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