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Sipa USA via AP<\/span><\/p>\n<\/div>\n Donald Trump\u2019s newest<\/span> business partner is assuring Australians that the Trump Tower he\u2019s building Down Under won\u2019t be nearly as tacky as they fear.<\/p>\n On Monday, David Young\u2014who runs the Queensland-based Altus Property Group\u2014announced<\/a> that the $1 billion Gold Coast development would contain 91 floors, 270 apartments, and a \u201c6-star\u201d resort. It will briefly be the continent\u2019s tallest building, though a neighboring property, already approved for construction, will quickly surpass it. Young said his deal with the Trump Organization was signed earlier this month at Mar-a-Lago.<\/p>\n It\u2019s just the latest foreign business entanglement from the Trump Organization, which is run by Eric Trump and Donald Trump Jr. but is still owned by the president. Recently, the Trump brand has launched real estate projects in Oman, Qatar, the United Arab Emirates, and Saudi Arabia.<\/p>\n Importantly, Young wants to make clear that the Australian development won\u2019t actually be ugly. In a statement<\/a> trumpeting the deal, he noted<\/a> there were certain \u201cmisconceptions\u201d about Trump properties.<\/p>\n \u201cFirstly, the file footage that Australians see, of Trump hotels and resorts with gaudy gold-plated bathrooms fixtures, mirrors and heavy chandeliers, is old footage from the 1980s and 90s,\u201d Young said. \u201cThe modern Trump package is high-end design and fit outs, with a premium feel. It\u2019s tasteful and expensive \u2013 when you walk into a modern Trump property, the impression is \u2018quality\u2019 and \u2019boutique.’\u201d<\/p>\n According to Young, the new property \u201cwill follow the same Trump design manual\u201d as the ongoing Trump projects in Saudi Arabia and the UAE.<\/p>\n Based on renderings in an Instagram post from Eric Trump, it will also be very large and gold-colored.<\/p>\n The terms of the deal are not clear. Trump has historically licensed his brand to foreign partners, with upfront payments for the use of his name, followed by years of royalties and a management deal, under which the Trump Organization gets paid to run properties. In his statement, Young specified that the project would be Australian-owned and built. \u201cIt is an Altus subsidiary, Altus Resorts Pty Ltd, that makes the decisions on the fit-out, within the Trump design requirements,\u201d he said. \u201cIt will be an Australian, not American, project. It won\u2019t have a Four Seasons or Ritz Carlton brand above the front door, but it will say \u2018Trump.’\u201d<\/p>\n Still, the magnates involved in the deal hail from places far beyond Australia and Florida. Young disclosed in his statement that the financing would come from unnamed investors in Singapore, Hong Kong, the UAE, and the United States. Meanwhile, it appears that the property the building will be built on is currently owned<\/a> by a casino titan from Macau.<\/p>\n Neither the Trump Organization nor Altus responded to requests for comment on the terms of the deal or the identity of the investors.<\/p>\n<\/p><\/div>\n