Goldin Finance 117, the World’s Tallest Abandoned Skyscraper, Will Resume Construction After a Decade Pause

In September 2015, Guinness World Records officially named Goldin Finance 117, a 1,959-foot-tall abandoned skyscraper, in Tianjin, China, the world’s tallest unoccupied building. At the time, developers deserted the 128-story project before it was completed due to significant financial difficulties. However, according to CNN, the structure may soon not be completely abandoned: The building is expected to resume construction early next week. Here’s the story behind the infamous building.

What is the history of Goldin Finance 117?

Goldin Finance 117 was designed by P&T Group, a firm based in Hong Kong known for its work throughout Asia. The building was intended to be the centerpiece of the Goldin Metropolitan Scheme, a mixed-use development that would cater to the ultrarich, and was planned to include residential, hospitality, and commercial space. Goldin Properties was the developer.

Construction first began in 2008, and at the time, the building was expected to finish in 2014 and be the country’s tallest. However, progress was halted in 2010 following cascading impacts from the Great Recession. Construction restarted in 2011, and the building was projected to be completed in 2018 or 2019. In 2015, it topped out—that is, the frame was finished—but construction was once again suspended shortly after. For the past decade, it has stood abandoned and unfinished.

Why was Goldin Finance 117 abandoned?

Serious financial headwinds following China’s stock market crash in 2015 forced Goldin Properties to liquidate, resulting in the abandonment of Goldin Finance 117. Later, the unfinished building became a sky-high symbol of the country’s broader real estate problems, which stemmed from over-investment in real estate and reckless borrowing from developers. It is one of many unfinished real estate projects throughout China

Goldin Finance 117 is the world’s fifth tallest building.

Photo: Mahmut Resul Karaca/Anadolu/Getty Images

Will Goldin Finance 117 ever be finished?

According to CNN, which cites Chinese state media, Goldin Finance 117 is now expected to be completed in 2027. The new financing details were not announced, though some experts believe that the government has invested and offered debt restructuring to help revitalize the building.

“[Supertall skyscrapers] are not necessarily the most efficient projects and they are not necessarily making profits, but they are indicators,” Qiao Shitong, an author of two books about Chinese real estate and a law professor at Duke University School of Law, told CNN. “By having this project revived and completed, the government at least hopes it can increase people’s confidence.”