A proposed Trump Tower on Australia's Gold Coast has been scrapped, with the developer and the Trump Organization trading accusations over the failed deal. The project, announced in February with much fanfare, was to be a $1.5bn skyscraper in Surfers Paradise.
Altus Property Group, the local developer, posted on LinkedIn that the Trump brand had become 'toxic to Australians' due to the US war in Iran. Director David Young claimed the decision was purely business, denying any acrimony with the Trump family.
The Trump Organization countered that Altus failed to meet basic financial obligations, stating that after 'months of negotiations and empty promise, after empty promise', the agreement was terminated. They accused Young of using world events as a distraction from his own defaults.
Gold Coast Mayor Tom Tate noted that no development application had been submitted to the council. The project, which would have been Australia's tallest building, now appears to be abandoned by both parties.
