Construction on the Goldin Finance 117, the world’s tallest unoccupied skyscraper, could resume as early as next week, almost ten years after work was halted due to financial struggles. Located in Tianjin, China, the 597-meter (1,959-foot) tower was originally slated to be China’s tallest structure when construction began in 2008. The building, designed with “mega columns” to withstand earthquakes and strong winds, features a diamond-shaped atrium at its top, which would house a swimming pool and observation deck. It was intended to include office spaces and a five-star hotel on its upper floors.
However, following the 2015 Chinese stock market crash, the project was suspended. The real estate developer behind the project, Goldin Properties, faced severe financial difficulties, leading to the company’s liquidation. As a result, the future of the tower seemed uncertain. A new construction permit issued for the project suggests the developer’s title may no longer be linked to the building, and it is unclear if the original plans for the structure will remain intact.
The unfinished skyscraper has become symbolic of China’s real estate challenges, with many similar abandoned buildings dotting the country’s skyline. The Chinese government has recently introduced measures aimed at stabilizing the real estate market and addressing the financial issues surrounding such projects. The resumption of work on Goldin Finance 117 is part of a broader effort to revive the sector. The government is also helping with investments and debt restructuring to ensure the completion of these massive structures, despite concerns over their economic viability.
For local governments, completing projects like this is a matter of city image and avoiding the unsightly view of abandoned buildings. However, experts note that the trend of pursuing high-profile skyscraper projects may shift, with more focus on sustainability and practicality rather than showcasing grandeur. Despite the high cost of construction, skyscrapers continue to be viewed as tools for attracting investment in surrounding areas, although the economic success of such projects remains uncertain given the current state of the real estate market.
The Goldin Finance 117, when completed, will be China’s third tallest skyscraper and the world’s sixth tallest. However, with other towering structures like the Shanghai Tower and Ping An Finance Centre surpassing it in height, the tower will likely only become the eighth tallest globally after the completion of other mega-projects like Saudi Arabia’s Jeddah Tower.
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