SAO PAULO - Donald Trump, builder of glittery gold lobbies, is planning a luxury golf community for Brazil's mega-rich.

The multimillion dollar project should find plenty of clients among Sao Paulo's upper crust. Real estate has always been a sure bet in this city of 17 million, especially at times like now, when the economy is sluggish and securities are volatile.

"The high-end market has always existed here. It was very hot last year with fears of an Argentina-like bank account freeze after the presidential race," said Romeu Chapp Chapp, the head of Sao Paulo's real estate developers association.

Amid a deep economic crisis, Argentina limited depositors' access to bank accounts for much of 2002. Meanwhile in Brazil, voters elected a left-of-centre former union leader as president -- sparking concerns in some circles about the kinds of policies he might pursue to make good on promises to raise living standards in the predominantly poor country.

"People like swapping cash for the safety of real estate," Mr. Chapp Chapp added.

Mr. Trump's style would be right at home in Sao Paulo, where garish buildings dot the cityscape and designs verge on the outlandish. Soap opera stars and models are paid to tout the accouterments of new buildings they would never buy for themselves.

The ritzy Morumbi neighborhood features a tower with individual swimming pools on each unit's private terrace.

The building corkscrews into the sky to maximize the pools' sun exposure. In old-money Higienopolis, you can find penthouses with neoclassical columns adorning two-story balconies.

But with his flash, Mr. Trump may take Brazil's use of architectural flourishes to new heights.

"We want to make this into a showcase for the Trump brand that will open the way for a series of developments in Brazil," said Ricardo Bellino, an advertising executive leading the development effort.

It will be Mr. Trump's first project in Latin America and will be financed separately from the casino empire Trump Hotels & Casino Resorts Inc., George Ross of the Trump group said.

To be built in the suburbs of Sao Paulo, the project -- dubbed Villa Trump -- will include a hotel and 500 memberships that come with plots for houses.

Villa Trump will be modeled on the Trump International Golf Club in Palm Beach, Fla. -- which carries a US$300,000 initiation fee for members.

The launch of the project, after a roadshow with banks to raise funds, is slated for August. After that, it will take quite some time for the development to come to fruition, Mr. Ross said.

The developers hope high-profile public officials will endorse the project.

"To demonstrate his confidence in Brazil, we're working to have Trump make the official announcement with [Finance Minister Antonio] Palocci in New York," Mr. Bellino said.