The Trump Organization has signed an agreement to build its first skyscraper in Australia, marking a major step in the country’s real estate market. The deal has been confirmed by local developers and is set to create what many expect will become the tallest building in Australia.The project is planned on the Gold Coast, a popular coastal city in the state of Queensland. The tower will rise to 91 floors and will cost about 1.5 billion Australian dollars (about 1.06 billion US dollars), according to the developers.Local developer Altus Property Group said in a statement that the deal with the Trump Organization was signed at the Mar-a-Lago resort in Florida, owned by the Trump family, on February 14. Altus CEO David Young said the project is now in the early stages of design and planning.The skyscraper will be branded as Trump Tower and is expected to include a six-star hotel and resort, 270 luxury apartments, retail space, a beach club, and a swimming pool.
The Trump Hotels website indicated that the project represents the first time that the brand has been used in a hotel in Australia. She described the historic address as one that will provide “world-class amenities” with uninterrupted views of the Gold Coast.Young said he had been working on a Trump-branded Australian project for nearly two decades, dating back to when he initially approached Ivanka Trump in 2007 about the idea.
He confirmed the building would be Australian-owned and built in Australia, although it follows design standards associated with the Trump brand.Apartment prices are expected to start at around A$5 million, Young said.The tower is planned for Surfers Paradise, one of the Gold Coast’s busiest tourist areas. If completed, 91 stories would make it taller than the current tallest buildings in the country, according to developers.At present, the project is still in the agreement stage. Developers are progressing through design, engineering and planning, and have yet to submit formal building applications to local councils.Supporters of the project say it could boost tourism in Queensland and help create jobs.
