The wait is over: the world’s tallest abandoned skyscraper resumes construction after 10 years

Construction on Goldin Finance 117, the tallest abandoned skyscraper in the world, could resume in early May 2025 — nearly 10 years after work was halted — according to CNN.

Located in the northern Chinese port city of Tianjin, Goldin Finance 117 began construction in 2008 with the goal of becoming the tallest building in China.

Standing at 1959 feet tall (597 meters) with over 115 floors, the skyscraper features “mega columns” designed to withstand strong winds and earthquakes. According to P&T Group, the architects behind the project, the Goldin was intended to house offices and a five-star hotel on its upper floors.

However, the 2015 Chinese stock market crash severely impacted the building’s developer, Goldin Properties Holding, a Hong Kong-based company. Currently, the group, founded by one of Hong Kong’s wealthiest businessmen, Pan Sutong, is undergoing liquidation.

Although it remains unclear what future purpose Goldin Finance 117 will serve, a new construction permit — worth nearly $77.5 million and signed by P&T Group and BGI Engineering Consultants — suggests that Pan Sutong’s company’s title has been removed from the building.

A widespread problem

Goldin Finance 117 is just one of many abandoned skyscrapers scattered across Chinese cities, serving as a stark symbol of the country’s real estate troubles. On April 21, Greenland Group announced the resumption of construction on the Greenland Tower in Chengdu — a 468-meter (1,535 feet) skyscraper whose work was halted in 2023 after the developer faced severe financial difficulties.

According to Qiao Shitong, a law professor at Duke University School of Law in North Carolina, USA, the resumption of these two projects appears to be driven by the Chinese government’s desire to “stabilize the real estate market.”

Qiao notes that while the financing for Goldin Finance 117 remains unclear, it’s possible that the state has injected funds and restructured debt to enable the project’s completion by 2027.

“(Supertall skyscrapers) are not necessarily the most efficient projects and they are not necessarily making profits, but they are indicators. The government at least hopes it can increase people’s confidence,” he explains.

For Fei Chen, professor of architecture and urban design at the University of Liverpool in the UK, the push to complete abandoned skyscrapers is also linked to maintaining the city’s image.

“They don’t want a project to be unfinished and to stay like that, which is an eyesore for everyone,” he says.

However, Chen believes this trend won’t become the norm in China’s real estate market. Although the government understands that skyscrapers can have some positive effects on an area, they are ultimately too costly and extravagant. Thus, Chen expects China to continue prioritizing more practical and sustainable real estate policies.

Chen also points out that these types of buildings have been used by developers as “magnets” to attract further investment to surrounding areas — as was the case with Goldin Finance 117, which was part of a larger residential development that included villas, commercial buildings, and office spaces.

Nevertheless, the city’s weak property sales and low office occupancy rates across the country make Chen skeptical about the project’s viability.

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“It’s a huge investment. And I seriously don’t know who is going to buy or rent this commercial space,” he concludes.

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