The Trump Organization, President Donald Trump‘s resort conglomerate, has signed a deal to develop its first branded skyscraper in Australia, a $1.06 billion luxury hotel and residential tower that is shaping up to be the country’s tallest building.
The project, to be known as Trump International Hotel & Tower Gold Coast, will be built in Surfers Paradise on Queensland’s Gold Coast and is planned to be 91 stories tall.
Eric Trump, the president’s son and executive vice president of the Trump Organization, said the project reflects an “unwavering commitment” to grand experiences globally.
“Trump International Hotel & Tower, Gold Coast is our first official project in Australia and reflects our unwavering commitment to delivering world-class luxury experiences in iconic locations around the world,” Eric Trump said in a news release. “This development exemplifies the Trump brand’s dedication to quality, sophistication, and unmatched service, and we are thrilled to bring this vision to the vibrant Gold Coast community.”
The agreement was signed with Australian property development group Altus on Feb. 14.
The tower will include a six-star resort-style hotel with roughly 285 rooms, about 270 luxury residential apartments, a private beach club, and retail space and restaurants, according to Altus CEO David Young.
While bearing the Trump name, the building will be Australian-owned and built, with Altus handling development and construction in line with the Trump Organization’s design specifications.
Young said the deal was finalized at the Trump family’s Mar-a-Lago estate in Florida after nearly two decades of pursuing the project.
As the design phase is already underway, Young said there are “misconceptions” about Trump Towers being “gaudy with gold-plated bathroom fixtures and heavy chandeliers.”
“The file footage that Australians see … is old footage from the 1980s and 90s,” Young said. “The modern Trump package is high-end design and fit-outs, with a premium feel.”
Young said he expects apartment prices to start at about 5 million Australian dollars.
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The site has approval by the Gold Coast Council for an 89-story tower, and Mayor Tom Tate had been involved in a meeting with the Trump Organization a day before a deal was finalized.
Acting Gold Coast Mayor Mark Hammel said the city welcomes the investment, but said Altus would need to submit a new development application for the 91-story plan.
