A planned 91-story Trump Tower luxury hotel on Australia's Gold Coast has been cancelled by its developer, who cited both regional tensions involving Iran and concerns about the Trump brand's reputation.

The project, which was set to become Australia's tallest building, was being developed on the Gold Coast in Queensland. The developer stated that ongoing conflicts in the region, particularly involving Iran, had created uncertainties that made the project unfeasible.

Additionally, the developer described the Trump brand as having become "toxic," suggesting reputational concerns also factored into the decision to abandon the luxury hotel project.

The Trump Organization has disputed the developer's characterization, stating that their former Australian construction partner is attempting to distract from "his own defaults and failures" in backing out of the project commitments.

The cancellation represents a setback for Trump-branded international real estate ventures, which have faced various challenges in recent years across different markets worldwide.