Trump's Tower in the Philippines
Nearing completion in the business hub of the Philippines, Makati, is the 57-story Trump Tower. It will be one of the most iconic and tallest buildings in Manila. Its unique architecture and location will make the area esteemed.
While the project began before Trump was elected (2012), it did begin when he was considering running for president. Therefore, Trump knew that if he was elected there might be an issue about how his real estate business benefits from his presidency. It was almost completed in November 2016, ironically, when Donald Trump became president. It cost $150 million.
That aside (although, he does benefit indirectly) it is hard to see how Trump Tower in the Philippines can be a success. While the Philippine president, Duerte, appointed Jose Antonio trade envoy for the country, he also happens to be the man building Trump's tower! This should greatly help Trump get many real estate developments in this country. This could be happening in other countries and unknown to the public. Granted, his two sons are handling these real estate deals, one can see how a Trump presidency does benefit though real estate.
The unique thing about the tower is this fact: Brokers online are asking around $750,000 for a small one-bedroom apartment in a city where the average worker takes home less than $10 a day! While Trump does not own the building, their revenue is from brand licensing. Ivanka's own jewelry business website promoted the Manila project. In the promotional video for the tower, Ivanka, Eric, Donald Jr., and President Trump, all say wonderful things about this project. Does the promotional video with President Trump violate any ethics?
The new tower is now nearly 95% presold and claims this was before Trump became the U.S. president.