A planned $1.5 billion Australian dollar Trump Tower skyscraper in eastern Australia has been shelved.
The reason: the local contractor failed to meet its obligations three months after the presentation.
A Trump Organization official confirmed the news.
Altus Property Group couldn't even cover basic financial commitments, the official said.
Altus CEO David Jung claimed that due to the Iran conflict and other events, Trump's brand became "toxic" in Australia.
Trump Organization dismissed this as "manipulation to cover personal failures."
Eric Trump announced the 91-story tower on Gold Coast in February, sharing sketches.
But construction never started. A petition against the project gathered over 142,000 signatures.
