Due to Anti-Trump Sentiment, 91-Story 'Trump Tower' Project in Australia Canceled

"Trump Brand Perceived as 'Toxic' by Australians"
Expert Says "Not at All a Surprising Outcome"

The project to build a Trump-branded skyscraper hotel and apartment complex on Australia's east coast, with an investment of about 1.1 billion dollars (approximately 1.64 trillion won), has ultimately been canceled.

According to The Guardian (UK) on May 14 (local time), David Young, CEO of the Australian real estate development company Altus Property Group, recently announced via social media that the Trump brand has become a "toxic" brand among Australians.

Image of Australia's 'Trump Tower'. Altus Property Group website · Yonhap News Agency

Previously, in February, former U.S. President Donald Trump's family business, the Trump Organization, announced plans to build a 91-story 'Trump Tower' in Gold Coast, a well-known tourist and resort destination on Australia's east coast. At the time, CEO Young praised the Trump brand as a "symbol of luxury and quality," promoting it as the tallest building and the finest resort in Australia.

However, the situation changed rapidly afterward. CEO Young explained that anti-Trump sentiment had grown in Australia due to the U.S. airstrikes on Iran and the impact of international affairs. Young, who said he has known President Trump for 19 years, emphasized that "there is no conflict with the Trump family" and that "this is purely a business decision."

A spokesperson for the Trump Organization commented, "We were very much looking forward to the opportunity to pursue a world-class development in Gold Coast, but this project depended on our license partner fulfilling certain obligations," adding, "Unfortunately, those obligations were not met." In response, CEO Young refuted, saying, "It is not because we failed to fulfill our obligations that the partnership ended," and added, "After observing the Iran war and various situations, we judged that now is the appropriate time to conclude the relationship."

Paul Burton, emeritus professor of urban planning at Griffith University, pointed out, "Gold Coast has seen quite a few development projects that were announced on a grand scale and then ultimately canceled," adding, "Most of them end up failing due to lack of financing." He assessed that the withdrawal of the Trump Tower plan was "not at all a surprising result" and said, "It was a project most likely to fall through from the very beginning. The only question was when it would collapse."

This content was produced with the assistance of AI translation services.