The Trump Organization has entered an agreement to develop its first tower in Australia, a project valued at A$1.5 billion that Altus Property Group says will become the country’s tallest building. The planned structure will rise 91 storeys on the Gold Coast, a popular seaside destination in Queensland.
Altus described the development as including a "six-star resort-hotel", 270 residential apartments, retail outlets, a beach club and a swimming pool. The company said the tower will be located in Surfers Paradise and called it "Australia’s tallest building will be a Trump Tower, right in the middle of Surfers Paradise - it’s great for Queensland tourism, and fantastic for Australia."
In its statement, Altus emphasized that the building will not carry the branding of other luxury operators, saying "It won’t have a Four Seasons or Ritz Carlton brand above the front door, but it will say ‘Trump’. And that means it is a no-expense-spared, highest-possible-quality building - the best in the world."
The Trump Hotels website also noted that this marks the first occasion the brand is being used for a hotel in Australia, describing the planned tower as "Set to become Australia’s tallest tower, this landmark address redefines beachfront sophistication with world-class amenities, iconic design, and uninterrupted Gold Coast views."
Altus CEO David Young said he had pursued the project for nearly 20 years, recalling that he cold-called Ivanka Trump in 2007 to pitch the idea of a Trump resort positioned as "Australia’s finest tourism property." Young said the final agreement with the Trump Organization was signed at the Mar-a-Lago resort on February 14.
According to Altus, the development is now "deeply into a process of design, engineering, construction and fit-out." The company also stated the tower will be Australian-owned and Australian-built, aligned with the Trump Organization’s specified design requirements.
Altus indicated that prices for the apartments were likely to start at A$5 million. For reference, the announcement included a currency conversion note of ($1 = 1.4130 Australian dollars).
The project combines elements of high-end hospitality and residential real estate in a single beachfront skyscraper and is being promoted by Altus as a major addition to the Gold Coast’s tourism and property market. With contractual commitments now in place and design work underway, the developer has signaled a move into the execution phase of the programme.