Construction on Goldin Finance 117, the tallest abandoned skyscraper in the world, may resume in early May 2025—nearly a decade after work came to a halt—according to a report by CNN.
Situated in Tianjin, a major port city in northern China, the towering structure began construction in 2008 with ambitions of becoming the tallest building in the country. At 597 meters (1,959 feet) and spanning over 115 floors, the building was engineered with “mega columns” to withstand powerful winds and seismic activity. It was initially designed to accommodate office space and a five-star hotel, according to its architects, the Hong Kong-based P&T Group.
However, construction was suspended in 2015 following the Chinese stock market crash, which significantly impacted the project’s developer, Goldin Properties Holding. The company, founded by prominent Hong Kong tycoon Pan Sutong, is currently undergoing liquidation.
While the final use of the skyscraper remains uncertain, a newly issued construction permit—valued at nearly $77.5 million and signed by P&T Group alongside BGI Engineering Consultants—suggests that Goldin Properties has relinquished control of the property.
A Broader Real Estate Challenge
Goldin Finance 117 is one of several high-rise developments in China that remain incomplete, symbolizing the wider instability in the country’s real estate sector. On April 21, construction also resumed on the Greenland Tower in Chengdu, a 468-meter (1,535-foot) skyscraper that had been halted since 2023 due to financial distress faced by its developer, Greenland Group.
According to Qiao Shitong, a law professor at Duke University School of Law, these resumptions appear to reflect the Chinese government’s efforts to stabilize a faltering property market. He speculates that state intervention—such as debt restructuring or financial injections—may be enabling these stalled projects to move forward, with completion potentially targeted for 2027 in the case of Goldin Finance 117.
“Supertall skyscrapers may not be the most efficient or profitable projects, but they serve as visible signals,” Qiao said. “The government hopes they will restore public confidence.”
Fei Chen, a professor of architecture and urban design at the University of Liverpool, believes that local governments are motivated not only by economic factors but also by aesthetics and urban image.
“Authorities don’t want incomplete, towering structures to remain eyesores in the cityscape,” Chen said.
Still, Chen is skeptical that this will become a widespread trend. He suggests that the high costs and extravagance associated with skyscraper developments are no longer aligned with China’s real estate priorities, which are shifting toward more sustainable and practical policies.
Chen also notes that in the past, massive developments like Goldin Finance 117 were often used as “magnets” to attract investment to broader mixed-use projects—including residential villas, office buildings, and commercial spaces. However, given Tianjin’s sluggish property sales and low office occupancy rates nationally, he questions whether the revival of the project will be economically viable.
