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Plans for Australia's first Trump Tower scrapped due to 'toxic' brand, developer says
Australian developer Altus Property Group scrapped plans for a A$1.5bn Trump Tower on the Gold Coast, blaming the 'toxic' Trump brand and the Iran war. The project, announced in February 2026, would have been a 91-storey, 335-metre luxury complex with hotel rooms, residences, shops and an beach club, but the deal was terminated.
Why It Matters
The decision highlights reputational risk and branding issues in international real estate deals, and potential shifts in investment plans for high-profile developments in Australia.
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May 13, 2026: Plans scrapped
May 13, 2026
Altus Property Group said the project was scrapped, citing the Trump brand as 'toxic' and the Iran war as factors. The deal, announced three months earlier, was described as live but the Gold Coast Council had not received a development application for the site. The Trump Organization disputed the claims, saying Altus failed to meet financial obligations and that project details had been removed from its website; the company indicated it would explore other potential projects in Australia. Gold Coast Mayor Tom Tate noted that the deal was a private agreement and attributed the collapse to negotiations over profit margins.
February 2026: Deal announced for Trump Tower on the Gold Coast
February 2026
Altus Property Group announced plans for a A$1.5bn Trump Tower on the Gold Coast, described as Australia’s potential tallest building at 335 metres (91 storeys). The project would include 285 hotel rooms, 272 luxury residential apartments, shops, restaurants and an exclusive beach club; construction was planned to begin in August.