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News Wire / economy

Trump Organization Pulls Out Of Gold Coast Resort Project

ABC NewsRadio AU Gold Coast 45d44d Impact 6
Plans for a $1.5 billion Trump Tower on the Gold Coast have been scrapped. The project involved Eric Trump and The Trump Organization. The developer cited the Trump brand as 'toxic' as the reason for the termination. A petition was signed and taken to the State Government regarding the project. The decision was made because the Trump brand is considered 'toxic to Australians'. The project was intended to be Australia's tallest tower. The Trump Organization has confirmed it will not proceed with its planned 91-story luxury resort hotel on the Gold Coast, Australia. Despite community controversy and media coverage, Australian developers Altus Property Group were set to spearhead the build. The organization had expressed excitement about bringing the project to the area. Altus, the developer, was unable to meet basic financial obligations after months of negotiations.

Topics

real estate development

Developing

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Sources · 7 independent

ABC NewsRadio AU

“Plans for a $1.5 billion Trump Tower on the Gold Coast have been scrapped less than”

BBC World Service

“the US President Donald Trump, announced plans on social media for a $1.5 billion Trump Tower at Surfers Paradise on the Gold Coast here in”

ABC NewsRadio AU

“was going to be Australia's first Trump branded building. And it was pitched as the tallest tower in the country.”

BBC World Service

“Trump Tower at Sur fers Paradise on the Gold Coast here in Australia . Now, this 91-story, six-star hotel”

BBC World Service

“declared bankruptcy, said the Trump organization had pulled out of the deal”

ABC NewsRadio AU

“Trump organization has hit back today. They've offered quite a different perspective.”

BBC WS backup

“that they'd been excited to bring the project to the Gold Coast.”

ABC NewsRadio AU

“the Gold Coast, but that after months of negotiations and empty promises , Altus had been unable to meet the most basic financial obligations.”

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