Trump Organization signs deal for first Australian skyscraper

The Trump Organization has signed a deal to build its first tower in Australia, in a project worth A$1.5 billion ($1.06 billion) that developers say will become the country’s tallest building.

The 91-storey skyscraper is planned for the Gold Coast, a popular seaside destination in Australia’s Queensland state.

It will include a "six-star resort-hotel", 270 apartments, shops, a beach club and a swimming pool, local property developer Altus Property Group said in a statement.

"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," the company said.

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"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."

The Trump Hotels website said the project marked the first time the brand was being used for a hotel in Australia.

"Set to become Australia’s tallest tower, this landmark address redefines beachfront sophistication with world-class amenities, iconic design, and uninterrupted Gold Coast views," it said.

Altus CEO David Young said he had been pursuing the development for nearly 20 years, cold-calling Ivanka Trump in 2007 to pitch a Trump resort as "Australia’s finest tourism property".

Young said the final agreement was signed with the Trump Organization at the Mar-a-Lago resort on February 14. The company was now "deeply into a process of design, engineering, construction and fit-out".

He said the building would be Australian-owned and Australian-built in line with the Trump company’s design requirements.

Prices for the tower's apartments were likely to start at A$5 million, he said.