Inside plans to build $1.5 billion Trump Tower in Australia that could become the country's tallest building

There's reportedly plans for a new, $1.5 billion Trump Tower to be built on the Gold Coast in Australia.

Property developer, Altus chief executive David Young has said he signed a deal over at Mar-a-Lago, Florida, with The Trump Organization, to build the tower, earlier this month.

The building is set to feature a six-star luxury resort, as well as a beach club, swimming pool and a range of restaurants.

Speaking about what the tower will be like, Young explained to ABC Gold Coast: "At 340 metres in height, and 91 storeys, it will outstretch the Australia 108 building in Melbourne by 15 metres and leave every other Australian resort property in its wake when it comes to luxury.

"We are now deeply into a process of design, engineering, construction and fit-out that will cost a shade under $1.5 billion and bring the world's pre-eminent hotel-resort brand to our shores."

The tower would feature 270 apartments with a starting price of around $5 million.

Young has revealed the proposed plans (Altus Property Group)

Young also claimed the tower would be Australia's tallest building, and added that there are often misconceptions about the designs.

"The file footage that Australians see, of Trump hotels and resorts with gaudy gold-plated bathroom fixtures, mirrors and heavy chandeliers, is old footage from the 1980s and 90s," he said.

"The modern Trump package is high-end design and fit-outs, with a premium feel."

Despite the plans, ABC reports that there are already proposals for a 393-meter, 101-storey tower in Southport, which would be taller than the Trump Tower.

The Gold Coast has an impressive range of buildings (Getty Stock Photo)

A Gold Coast spokesperson has confirmed that Mayor Tom Tate had a meeting with the Trump Organisation earlier this month.

However, despite the plans, Acting Mayor Mark Hammel explained a formal development application would need to be submitted, explaining: "We welcome investment in the city. It shows confidence in our city and ultimately creates jobs."

Trump Tower in Las Vegas (Getty Stock Photo)

Meanwhile, Paul Burton, an emeritus professor of planning at Griffith University questioned whether the plans will come to fruition.

“If you took all the plans and proposals for massive, luxury, spectacular, high-rise, innovative, world-beating projects that have never come to fruition there, you could build a pretty impressive sea wall across Surfers Paradise,” he told the Guardian.

“This area is special because it attracts people who go: ‘I’ve got some fantastic plans and I’ve got some backers somewhere, Singapore, Hong Kong, Korea, wherever.’

“Most of them don’t come to fruition, because something falls apart along the way.”

UNILAD has reached out to The Trump Organization for comment.