Plans for the highly anticipated Trump Tower on Australia’s Gold Coast have been abruptly canceled just three months after their announcement. The developer, Altus Property Group, attributed the collapse to the Trump brand becoming “toxic” in Australia due to geopolitical events. However, the Trump Organization disputes this, claiming the developer failed to meet fundamental financial obligations and is using external factors as a diversion. The Gold Coast mayor suggested the breakdown stemmed from disagreements over profit margins, with the Trump Organization seeking a larger share of returns.
Read More
Plans for Australia’s first Trump Tower on the Gold Coast have been canceled just three months after their announcement due to the Trump brand becoming “toxic” in Australia. The local developer cited growing unpopularity linked to current events and significant public backlash, including a petition with over 140,000 signatures. While the project will still proceed, it will be without the Trump name, with discussions ongoing for alternative luxury branding. Financial considerations regarding the Trump Organization’s branding fees and profit expectations are also believed to be a factor in the separation.
Read More
Plans for a $1.5 billion, 91-storey Trump Tower on the Gold Coast have been canceled less than three months after their announcement. The Trump Organization reportedly withdrew due to the brand becoming “toxic” in Australia, a sentiment echoed by the developer who cited potential profit margin disagreements. While the developer hopes to proceed with another luxury brand, the project never formally progressed to a development application. The Gold Coast Mayor suggested the deal’s failure stemmed from the Trump Organization’s demands for brand licensing fees and profit returns, which clashed with the developer’s investment.
Read More
John Q. Hosedrinker