Altus Property Group announced the cancellation of plans for a 91-storey Trump hotel and apartment tower on Australia's Gold Coast. The project, originally revealed in February 2026, was expected to cost between US$1.1 billion and A$1.5 billion [1, 2, 3, 4, 5, 6, 7].
David Young, CEO of Altus Property Group, said the Trump brand had become "toxic" and unpopular in Australia, particularly due to geopolitical factors such as the ongoing Iran war. Young noted, "Some time ago, we knew it was time to part company. It wasn’t about not meeting obligations. We are negotiating with the top brands around the world, of which The Trump Organization was one. The project is continuing." [4, 7]
The 335-meter tower would have been Australia's tallest building, featuring 285 hotel rooms, 272 luxury apartments, shops, restaurants, and a private beach club [3, 7]. Construction was scheduled to start in August 2026. [7]
The Trump Organization, run by Donald Trump's adult sons, disputed the Altus claims. A spokeswoman, Kimberly Benza, said Altus Property Group "was unable to meet the most basic financial obligation due upon the execution of the agreement," citing failed payments and dropped branding rights. She added the group looks forward to "exploring other potential projects and bringing a Trump property to Australia soon." [2, 4, 5, 6, 7]
An online petition opposing the Trump Tower on the Gold Coast gathered over 124,000 signatures, with critics objecting to Trump's political stance [1, 4, 5, 6, 7].
Gold Coast Mayor Tom Tate said the city council never received a development application. He attributed the project's collapse to disagreements over profit and investment returns rather than planning issues [7].
Altus Property Group plans to continue the development under a new luxury brand and is negotiating with other top global brands for the project [4, 7]. The cancellation marks a significant shift in the large-scale waterfront development originally announced in February 2026.
