$1.5 billion Trump Tower set to be Australia’s tallest building

Altus Property Group said the Trump International Hotel & Tower, Gold Coast will rise 340 metres across 91 storeys, making it Australia’s tallest building if completed as proposed, News.Az reports, citing Australian media.

The tower will be constructed on vacant land on Rickett Street, near the beachfront at Surfers Paradise.

Altus chief executive David Young said he signed the agreement on February 14 at Donald Trump’s Florida residence, adding that he had pursued the project for nearly two decades.

The development is expected to cost just under $1.5 billion and will be fully funded by private investors from Singapore, Hong Kong, the United Arab Emirates and the United States. According to Young, the financing structure includes a mix of debt and equity, allowing the project to proceed without the need for early presales.

He said the tower would be “Australia owned and Australia built” and is projected to generate around 500 construction jobs and a further 500 ongoing roles once operational.

The building will include 272 exclusive residences, with approximately one-third of the tower allocated to apartments starting at $5 million. Pricing for penthouses has not yet been announced. Plans also feature retail outlets and a private beach club.

Trump Hotels confirmed the project is “coming soon,” describing it as the first Trump-branded hotel in Australia. The company said the tower will offer beachfront views, luxury amenities and what it calls an iconic design.

If completed at 340 metres, the tower would surpass the Q1 on the Gold Coast, which stands at 322 metres, and Australia 108 in Melbourne, currently the country’s tallest residential tower at 316 metres.