Trump Tower Build Suspended In Argentina: Report

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Trump Tower build suspended in Argentina: report

BUENOS AIRES, Jan 3, (APP - UrduPoint / Pakistan Point News - 04th Jan, 2017 ) - Donald Trump has shelved plans to build a skyscraper in Argentina due to uncertainty over his investments as he prepares to take up the presidency later this month, a newspaper said Tuesday, quoting developers.

The outspoken billionaire US president-elect had planned to build a $100 million, 35-storey office building in Buenos Aires, La Nacion newspaper said. But "the Trump family decided to call off all projects that are not yet underway outside the United States," the paper quoted the YY Development Group, Trump's partners in South America, as saying.

The group's director Juan Jose Cugliandolo told the paper Trump put the project on hold pending "strategic decisions" about his overseas operations during what would be a "dizzying year" as he takes up the presidency.

In November, Argentina's government denied that Trump had asked Argentine President Mauricio Macri to approve the building project, when the two men spoke after Trump's election win. A government adviser said Trump and Macri "recalled the personal relations they had years earlier" when they met as fellow real estate businessmen in New York in the 1980s.