Construction is expected to resume on the world’s tallest unfinished skyscraper nearly a decade after work halted, according to reports from China. The 597-meter (1,959-foot) Goldin Finance 117 tower in Tianjin, a port city in northern China, may finally be completed by 2027, marking a major shift in the fate of the long-stalled project.
The tower, also known as the “walking stick” due to its slender design, was intended to become a landmark when construction began in 2008. It was set to include 117 floors of luxury offices and a five-star hotel, topped by a diamond-shaped atrium with a swimming pool and an observation deck.
However, the 2015 stock market crash dealt a heavy blow to the project’s developer, Goldin Properties Holdings. The company, led by Hong Kong businessman Pan Sutong, eventually got liquidated, leaving the tower unfinished.
A new construction permit, reportedly worth nearly 569 million yuan (about $78 million), has now been issued. Goldin Properties is not named on the permit; BGI Engineering Consultants, a state-owned firm, is listed. The exact future use of the building remains unclear, and neither BGI nor the architecture firm P&T Group has commented on the project’s restart.
The tower’s revival comes amid broader efforts to stabilize China’s struggling real estate sector. On the same day, Greenland Group announced that it would resume work on the 468-meter (1,535-foot) Chengdu Greenland Tower, which had been paused since 2023 due to financial difficulties.
Experts suggest the timing is deliberate. “The national government has made it clear it wants to stabilize the real estate market,” said Qiao Shitong, a law professor at Duke University. It is encouraging local governments to step in and help revive major projects.
Construction is restarting on what was once the world’s tallest unfinished skyscraper, nearly a decade after the project was put on hold. Goldin Finance 117, a 597-meter tower in Tianjin, #China, is set to resume construction after being abandoned since 2015. pic.twitter.com/G2GVRQJNtG
— NextMetropolis (@NextMetropolis) April 25, 2025
Although funding details for Goldin Finance 117 have not been disclosed, analysts believe state-backed investment and debt restructuring are likely involved. Qiao noted that while supertall skyscrapers are rarely profitable, their completion may serve a symbolic purpose.
“(Supertall skyscrapers) are not necessarily the most efficient projects and they are not necessarily making profits, but they are indicators,” he said. “By having this project revived and completed, the government at least hopes it can increase people’s confidence.”
Fei Chen, an architecture and urban design professor at the University of Liverpool, said finishing the tower is also about civic image. “They don’t want a project to be unfinished and to stay like that, which is an eyesore for everyone,” she said.
Still, Chen cautioned against reading too much into the restarts. These are not signs of a return to “vanity projects,” she said.
“The government is conscious that although these (skyscraper) projects have some positive effects on the area, they require too much investment and are not financially or environmentally sustainable… I think the general urban development trend is not changed by the fact that some projects are being resumed. I think it’s more about local government efforts to make their city better.”
Despite tighter rules and slowing demand, China remains the global leader in skyscraper construction. Of the 133 buildings over 200 meters completed worldwide last year, 91 were in China, according to the Council on Tall Buildings and Urban Habitat.
Goldin Finance 117 was part of a larger development that included villas, office towers, entertainment venues, and a polo club. The new permit refers to establishing several “commercial corridors,” although it remains unclear whether the broader plan will continue.
Meanwhile, questions persist about the project’s economic future. Some wonder whether tenants will come with falling property sales and low office demand. “It’s a huge investment,” Qiao said. “And I seriously don’t know who is going to buy or rent this commercial space.”
Once projected to be China’s tallest tower, Goldin Finance 117 has now been surpassed by Shanghai Tower and Ping An Finance Centre. If completed, it would rank third in China and sixth in the world or eighth, if Saudi Arabia’s Jeddah Tower and Dubai’s Burj Azizi are finished in the coming years.
