The Trump Organization has signed an A$1.5 billion deal to build its first tower in Australia.
Developers said the planned 91-story skyscraper on the Gold Coast is set to be the country’s tallest.
Atlus CEO David Young said he signed the deal with the Trump Organization at Mar-a-Lago, Florida, on 14 February.
"At 340 metres in height, and 91 storeys, it will outstretch the Australia 108 building in Melbourne by 15 metres and leave every other Australian resort property in its wake when it comes to luxury," he said.
"We are now deeply into a process of design, engineering, construction and fit-out that will cost a shade under $1.5 billion and bring the world's pre-eminent hotel-resort brand to our shores."
The tower will also have 270 apartments that Young said are likely to start at A$5 million.
It will also have a six-star luxury resort with high-end retail brands, a beach club, swimming pool and restaurants on the first five floors.
Young said he has been pursuing the development for nearly 20 years, starting in 2007 when he cold-called Ivanka Trump to pitch the Trump resort as “Australia’s finest tourism property”.
Young said the skyscraper will follow the same “Trump design manual” as similar towers being built in Saudi Arabia and the United Arab Emirates.
The site on which the tower is to be built has been vacant for more than a decade.
Chinese developer Forise sold the site in 2019 for $56 million to a consortium of investors called 3 Trickett Street Pty Ltd.
The state has existing council approval for an 89-story tower, and acting Gold Coast mayor Mark Hammel said Atlus would need to submit a new formal development application for the Trump Tower.
"We welcome investment in the city. It shows confidence in our city and ultimately creates jobs," Hammel said.
