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4mo ago

Construction of Goldin Finance 117 to Resume After Decade-Long Halt

China approves restart of stalled skyscraper projects to stabilize real estate sector, with completion of Tianjin's 597-meter tower targeted for 2027.

The tower broke ground in 2008 and topped out in 2015, but has stood unfinished for almost a decade.
Mandatory Credit: Photo by Costfoto/NurPhoto/Shutterstock (14680209k) The 597-meter high Goldin Finance 117 Tower, known as the world's first unfinished building, is pictured in Tianjin, China, on August 28, 2024. The construction of Goldin Finance 117 Building in Xiqing District, Tianjin, begins in September 2008, and on September 8, 2015, Goldin Finance 117 completes the main structure. Goldin Finance 117 becomes an unfinished building, stalled by Goldin's plunging market value and poor sales. World's First Unfinished Building in Tianjin, China - 30 Aug 2024
A view of the unfinished 597-meter-tall Goldin Finance 117 Tower in north China's Tianjin Municipality Wednesday, Aug. 28, 2024.
Original plans divided the project into three office zones, with a hotel on the upper floors, according to architects P&T Group.

Overview

  • Goldin Finance 117, the 597-meter skyscraper in Tianjin, is set to resume construction next week after being abandoned in 2015 due to financial difficulties.
  • The project, once envisioned as China's tallest building, will now become the country's third tallest and the world's sixth tallest upon its projected 2027 completion.
  • A new construction permit names state-owned BGI Engineering Consultants as the contractor, signaling a shift away from the defunct original developer, Goldin Properties Holdings.
  • Work will also recommence on the 468-meter Chengdu Greenland Tower, which has been on hold since 2023 due to developer financial challenges.
  • Experts question the economic viability of these projects, citing weak property sales and low office demand, despite their symbolic importance for urban prestige and market confidence.