David Young, the CEO of Altus, has signed a significant deal with the Trump Organization to develop a luxurious 91-storey Trump Tower in Gold Coast, Australia, with an estimated cost of $1.5 billion. He made this announcement after finalizing the agreement at Mar-a-Lago, emphasizing that the tower will stand 340 meters tall, surpassing the current tallest building in Australia, the Australia 108 in Melbourne. Young expressed confidence that this project will redefine luxury accommodations and target the wealthiest individuals globally.

However, the project is still in its preliminary stages, with the Gold Coast's acting mayor noting that a development application has yet to be submitted to the local council. This indicates that while the deal is signed, there are still bureaucratic hurdles to clear before construction can commence. Young's vision includes a design that is not only tall but also reflects taste and luxury, marking a significant addition to the Gold Coast's skyline.

This proposed development raises questions around its impact on the local economy, environment, and public opinion towards high-profile projects involving controversial figures like Donald Trump. As the project moves forward, community engagement and regulatory processes will be closely monitored, making it a focal point in discussions about urban development and tourism in the area.