What Happened
Plans have been announced for a new Trump Tower on the Gold Coast in Australia, with an estimated cost of $1.5 billion. Property developer Altus chief executive David Young confirmed that a deal was signed with The Trump Organization to construct the tower, which is expected to reach a height of 340 meters and feature 91 storeys. This would surpass the current tallest building in Australia, Australia 108 in Melbourne, by 15 meters.
Why It Matters
The proposed tower will include a six-star luxury resort, a beach club, a swimming pool, and various restaurants, aiming to bring a high-end experience to the region. Young emphasized that the modern Trump brand focuses on premium design, distancing itself from outdated perceptions of gaudy aesthetics. Additionally, the tower will feature 270 apartments, with prices starting around $5 million.
What’s Next
As construction progresses, the project is expected to contribute significantly to the local economy and tourism sector. Meanwhile, American Express has also announced plans to move its global headquarters to 2 World Trade Center in New York City, further emphasizing the trend of major corporations investing in iconic skyscrapers. Construction for the American Express headquarters is set to begin in the spring, with completion anticipated by 2031.
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