Australia

Trump Tower Australia Deal Collapses After 3 Months

Did Trump Tower Gold Coast fail due to Altus Property Group's financial incompetence or was the Trump brand simply too toxic to survive?

Published MAY 13

#Australia

Trump Tower Australia Deal Collapses After 3 Months

Story

Above: An exterior view of Trump Tower in New York City, on July 1, 2024. Image credit: Spencer Platt/Getty Images

The Spin

Pro-Trump narrative

The Trump Tower Gold Coast collapse has nothing to do with the Trump brand and everything to do with Altus Property Group's failure to meet basic financial obligations. After months of empty promises on a supposed $1.5 billion project, the developer couldn't deliver — and now wants to blame global events as a distraction. A developer who has declared bankruptcy twice simply wasn't a credible partner for a world-class project.

Sky News Australia on X

Anti-Trump narrative

The Trump Tower Gold Coast collapsed because the Trump brand had become genuinely toxic to Australians, with over 120,000 people signing petitions against it. No development application was ever submitted to council, financing was shaky, and the Trump Organization was demanding an outsized cut of profits. This was a vanity deal that was never going to get built.

CNN

Sunrise on Youtube