By Emily Dobson, ABC
The plan to build a Trump Tower on the Gold Coast has been abandoned.
Photo: Supplied / ABC / Altus Property Group
Plans for a A$1.5 billion (NZ$1.8b) Trump Tower on the Gold Coast have been scrapped less than three months after the deal was made.
The 91-storey, branded tower proposed for Surfers Paradise would have been Australia’s tallest building.
Altus Property Group chief executive and founder David Young, who proposed the project, said the Trump Organisation had pulled out but he still hoped a tower would be built on the site.
“Let’s just say that with the Iran war and everything else, the Trump brand was increasingly toxic in Australia,” he said.
“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.”
Plans pulled from Trump Organisation website
The deal was first announced on social media in late February by Eric Trump, US President Donald Trump’s second son.
Altus CEO David Young with Trump Organisation executive vice president Eric Trump.
Photo: Supplied: Altus Property Group
In his post, Eric Trump said the deal would mark the company’s first project in Australia.
“I couldn’t be more excited to help shape [Australia’s] iconic skyline forever,” he said.
Plans have been pulled from the Trump Organisation’s website and the ABC has contacted the company for comment.
ABC investigations into Young found the Queensland businessman had twice declared bankruptcy and ran businesses that collapsed owing millions.
The ABC understands a development application was never put before Gold Coast City Council, despite claims published on the Altus Property Group website that construction would begin in August 2026.
The Surfers Paradise site has existing council approval for an 89-storey tower and is owned by consortium 3 Trickett Street Pty Ltd.
It has been vacant for more than a decade and has passed through the hands of several owners.
-ABC