China’s long-delayed skyscraper, Goldin Finance 117, nears completion amid property woes

On March 28, the first component of a diamond-shaped crown was hoisted to the rooftop of the Goldin Finance 117 skyscraper in the Chinese city of Tianjin.

Photo: Xinhua Once dubbed the world’s tallest abandoned skyscraper, Goldin Finance 117 in northern China appears to be in the homestretch of a marathon construction effort – after nearly a decade of dormancy and a year of resumed work – even as the nation’s property market struggles to leg out a sustained recovery.

Late last month, workers began installing a diamond-shaped crown on top of the building – designed to be 596 metres (1,955 feet) tall upon completion – in the port city of Tianjin, according to state media reports.

Eighteen years after construction began, the saga of this closely watched building has long underscored both the collapse of China’s property market and the nation’s retreat from earlier pursuits of supertall skyscrapers.

The project was resumed last year through a government-led restructuring and takeover by state-backed investors, and it is now being positioned as a major project to stabilise the property market and rebuild confidence.

The hoisting of the 7.6-tonne diamond-shaped steel structure atop the building was said by Xinhua to be a notable milestone since construction on the skyscraper resumed last April.

Leasing for the main tower has been largely completed, with 17 companies committing to space, including seven state-owned enterprises and 10 private firms, according to the report.

On March 28, the first steel-structure component of a diamond-shaped crown was hoisted to the rooftop of Goldin Finance 117 in the Chinese city of Tianjin.

Photo: Xinhua Once finished, the tower is expected to rank as China’s third-tallest building, behind Shanghai Tower at 632 metres (2,073 feet) and Ping An Finance Centre at 599.1 metres (1,965 feet).

Construction of Goldin Finance 117 broke ground in 2008, and the main structure was topped out in September 2015, but the project stalled later that year following a stock market crash that triggered funding difficulties for its developer, Hong Kong-based Goldin Properties Holdings, which subsequently entered liquidation.

The nearly US$10 billion project, once seen as a symbol of China’s property boom and architectural ambition – and one that promised to redefine skyscraper standards – became emblematic of the sector’s downturn as it remained idle for years.

That hiatus coincided with a broader policy shift.

After years of rapid expa

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