Australia’s 91-Story Trump Tower Plan Scrapped as $1.1 Billion Project Falls Through

A plan to build a 91-story Trump-branded hotel and apartment tower on Australia’s east coast has fallen through. The project, valued at about $1.1 billion, or roughly 1.6408 trillion won, was reported on the 14th local time to have been scrapped amid local opposition and related concerns. The development had drawn attention as a large-scale real estate project using the Trump brand, with potential implications for local development and the high-end lodging and residential market. With the plan now abandoned, expectations tied to the project have also weakened. If similar high-rise developments are pursued in the area, local public sentiment and brand reputation are likely to remain key factors. Source: mk.co.kr