In the second phase of development on the 1,500-acre estate, the Trump Organisation plans to build 500 residential homes, 50 hotel cottages, a sports centre, equestrian facilities and retail space.
The company hopes this will create 2,000 jobs during construction and 300 permanent roles afterwards – but the development has proved controversial, with the organisation accused of failing to deliver on employment promises in the past.
A championship golf course, clubhouse and hotel were created during the first phase of development in 2008.
Eric Trump, who leads the organisation along with his brother Donald Jr, said: “We own a truly phenomenal property along the coast of northeast Scotland and remain fully committed to our long-term vision for the site.
“The timing is now right for us to release the next phase of investment and the significant economic benefits this brings.
“Initial interest to our plans have been incredible and, subject to detailed planning approval, we are aiming to break ground next year.”
The plans have already been granted outline approval, and were submitted to Aberdeenshire Council on Tuesday.
Branded The Trump Estate, the new residential community will provide a range of two, three, four and five-bedroom cottages, townhouses and mansions ranging from £295,000 to millions of pounds.
Sarah Malone, executive vice president of Trump International in Aberdeen, said: “After extensive market research we are bringing forward a suite of luxury homes and five-star hotel cottages which we believe meet the needs and demands of consumers today.
“From the outset, our vision was to create a world-class leisure destination and sustainable community defined by quality and authenticity.
“This next phase builds on the international reputation of our championship golf course, ranked within the top 50 golf courses in the world, and harnesses the natural beauty of this mature site providing an exceptional place to live, rest and play.
“Improvements to the region’s infrastructure and recovery signs in the economy makes this the right time to drive forward this next major phase of development.”
Colin Clark, MP for Gordon, said: “This level of investment is very good news for the local economy and demonstrates what a great region Aberdeenshire is for international investors.”