‘Toxic’: Australian developer spent 20 years chasing a Trump Tower deal, announced it in February, and killed it three months later

Plans to build Australia’s first Trump Tower have been scrapped just three months after they were announced. The 91-story Trump International Hotel & Tower Gold Coast was set to include a 285-room luxury hotel, high-end retail, restaurants, and residential apartments finished to Trump specifications. David Young, CEO of Altus Property Group, the developer behind the project, said the Trump brand has become “toxic” in Australia.

According to CNN, the project was going to be Australia’s tallest tower, but it sparked intense backlash right after its February announcement. A petition aimed at stopping the project gathered over 140,000 signatures. The creator of the petition, who chose to stay anonymous, said they were motivated by opposition to Trump’s policies, especially on immigration. 

“I felt powerless while watching scenes of ‘anti-immigrant violence and the social division’ in the US on social media,” the creator said. “I looked for a way to express my opposition, and this petition was my way of doing that.”

Money and brand disputes appear to have driven the Trump Tower Gold Coast collapse

Young defended the Trump brand and called the backlash “grossly unfair.” But he also admitted that the brand had become unpopular in Australia due to several factors, including global events. “The Trump brand was increasingly unpopular in Australia,” Young told CNN. “It’s not a decision I took lightly, but I believe it’s the right one for our project.”

The Trump Organization is owned by US President Donald Trump but run by his sons Donald Jr. and Eric. The Gold Coast tower was going to be the organization’s first official project in Australia. Eric Trump had described it as an “Australian, not American project.” However, Australian investors eventually parted ways with the Trump Organization over disagreements on funding and branding.

Gold Coast Mayor Tom Tate pointed to a financial dispute as a key reason for the split. “The Trump Organization wants a lot more for their brand on the funding side of things,” he said. “Meanwhile, the developer’s going, ‘Well, I’m putting in all of my money in and you’re actually going to take quite a lot of profit’, so I think that’s why they’re parting ways.”

The Trump Organization’s business dealings in the Middle East have also come under scrutiny in recent months. Trump has been involved in projects in Oman, Saudi Arabia, and the United Arab Emirates, earning millions of dollars in licensing fees from business partners in the region, according to a report by Mother Jones. However, ongoing conflict in the region has made many of these projects financially difficult to move forward.

In Oman, Trump has been developing a project that includes a golf course, a hotel, and seaside villas. Since the war with Iran began, that project has been put on hold. Iranian drones have struck oil tankers and other targets in the region, disrupting shipping and causing economic damage. 

Trump has also made his military posture toward Iran clear, with reports detailing how Trump is monitoring Iran’s nuclear sites through Space Force. David Young’s description of the Trump brand as “toxic” in Australia suggests that its reputation has taken serious damage from the controversies and conflicts tied to Trump’s presidency. 

The cancellation of the Gold Coast project is the clearest sign yet that the brand’s appeal has weakened significantly in the country. Tensions abroad have only added to this, and Trump’s aggressive stance toward Iran has made international investors increasingly uneasy about associating with his brand.