Construction Resumes on World’s Tallest Unfinished Skyscraper in Tianjin After Nearly a Decade
Construction is set to resume soon on the world’s tallest unfinished skyscraper, the Goldin Finance 117 tower in Tianjin, China, almost 10 years after work halted. The 597-meter (1,959-foot), 117-story building, which topped out in 2015 but was left incomplete due to financial troubles, is now expected to be finished by 2027.
When construction began in 2008, Goldin Finance 117 was poised to become China’s tallest skyscraper. Its innovative design featured massive “mega columns” engineered to withstand strong winds and earthquakes. The tower’s distinctive “walking stick” silhouette was topped by a diamond-shaped atrium housing a swimming pool and observation deck. The building was planned to include office spaces and a luxury five-star hotel on its upper floors, according to its architects, P&T Group.
Financial Difficulties and Project Standstill
However, the project came to a sudden stop after the 2015 Chinese stock market crash severely impacted Goldin Properties Holdings, the Hong Kong-based developer behind the skyscraper. The company, once led by billionaire Pan Sutong, later went into liquidation, leaving the towering structure unfinished and abandoned.
Recently, a new construction permit has been issued, with a contract value reportedly near 569 million yuan (approximately $78 million). This permit hints that the developer’s name might no longer be officially attached to the project, though specific future plans for the skyscraper’s use remain unclear. Neither P&T Group nor the state-owned company listed on the permit, BGI Engineering Consultants, have publicly commented.
Government Actions and Market Stabilization Efforts
The sight of numerous unfinished skyscrapers has become a symbol of China’s real estate challenges over the past decade. In response, China’s housing ministry and National Development and Reform Commission introduced guidelines in 2020 banning new towers taller than 500 meters (1,640 feet). The policy aims to curb speculative financing and excessive risk-taking in the sector.
In a related development, construction has also resumed on the Chengdu Greenland Tower, a 468-meter (1,535-foot) skyscraper in southwestern China that had been stalled since 2023 due to financial problems faced by state-owned Greenland Group.
Observers note that the simultaneous revival of these major projects likely signals a broader push by the national government to stabilize China’s real estate market. Local governments have been encouraged to help revive stalled developments to boost market confidence.
Economic and Urban Implications
Experts suggest that while such “supertall” projects are not always profitable or efficient, they serve as important indicators of economic health. Restarting and completing them can help restore trust among investors and residents.
For local officials, finishing abandoned skyscrapers is also about protecting the city’s image. An unfinished skyscraper can be seen as an eyesore, undermining the urban environment and community pride.
That said, analysts believe these resumptions don’t mark a return to the “vanity projects” of previous years. Authorities are cautious about the heavy investments and environmental costs such megastructures require. The focus is more on improving urban development sustainably rather than simply chasing record heights.
Despite these concerns, China remains the world leader in skyscraper construction. Of the 133 buildings taller than 200 meters completed globally last year, 91 were built in China. Skyscrapers continue to be seen as magnets that attract further investment and development in their surroundings.
Goldin Finance 117 was part of a larger development including villas, commercial buildings, and recreational facilities. While details on these adjacent projects remain scarce, slow property sales and weak office occupancy across China raise questions about the economic viability of such large-scale developments.
Since the decade-long pause on Goldin Finance 117, Tianjin has welcomed the 530-meter Tianjin CTF Finance Centre, currently the eighth tallest building worldwide. Meanwhile, Goldin Finance 117 has been surpassed by China’s Shanghai Tower and Shenzhen’s Ping An Finance Centre, making it the country’s third tallest skyscraper when completed.
Its global ranking will likely drop further if Saudi Arabia’s Jeddah Tower and Dubai’s Burj Azizi, both now back under construction, finish later this decade.
