Business
Trump Organization signs $1 billion Australia skyscraper development deal
Gatestone Institute senior fellow Gordon Chang joins ‘Mornings with Maria’ to weigh in on President Donald Trump’s escalating tariff battle with China, mounting Iran tensions and the high-stakes summit with Xi Jinping.
The Trump Organization signed an agreement to build a $1 billion skyscraper on Australia’s Golden Coast, the company announced on Friday.
The $1.06 billion building will rise 91 floors in the Australian state of Queensland, the Trump organization said in an announcement. The building will feature a “six-star resort-hotel” with 270 apartments as well as assorted shops and a beach club, said local developer Altus Property Group.
“Australia’s tallest building will be a Trump Tower, right in the middle of Surfers Paradise — it’s great for Queensland tourism, and fantastic for Australia,” Altus said in a statement.
“It won’t have a Four Seasons or Ritz-Carlton brand above the front door, but it will say ‘Trump.’ And that means it is a no-expense-spared, highest-possible-quality building — the best in the world,” it added.
TRUMP UNVEILS NEW RENDERING OF SPRAWLING WHITE HOUSE BALLROOM PROJECT
The facade of The Trump Building in the Financial District of New York City, on Nov. 18, 2023. (Mairo Cinquetti/NurPhoto via Getty Images)
Altus CEO David Young said the property deal has been in the works for decades after he cold-called Ivanka Trump about the potential deal in 2007.
The announcement comes as the Trump Organization and President Donald Trump are suing various banks for allegedly “debanking” accounts after the storming of the U.S. Capitol in January 2021.
JPMorgan Chase Bank admitted last week that it closed the president’s bank accounts following Jan. 6 of that year, a confession spurred by a $5 billion legal challenge from the president last month.
TRUMP ADMIN DEFENDS WHITE HOUSE BALLROOM AS NATIONAL SECURITY MATTER
President Donald Trump and first lady Melania Trump walk to board Marine One on the South Lawn of the White House, Dec. 23, 2020. (AP Photo/Evan Vucci)
Trump and his companies were given until April 19, 2021, to transfer hundreds of millions of dollars before the accounts were officially closed.
While the bank’s letters do not provide a specific reason for the closures, Trump attorneys are alleging the accounts were “unlawfully closed due to political discrimination,” and that they were placed on a “blacklist.”
In an earlier filing, Trump’s attorneys noted he was a JPMorgan customer for decades, and he and his affiliated entities transacted “hundreds of millions of dollars” through the bank.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The Trump Organization also sued Capital One in 2025, claiming the bank in 2021 “unjustifiably” terminated more than 300 of its bank accounts and accounts belonging to Trump family members.
At the time, a Capital One spokesperson told Fox News Digital, “Capital One has not and does not close customer accounts for political reasons.”