Originally designed to be the centerpiece of a luxury real estate project in Tianjin, “Goldin Finance 117,” also known as the “China 117 Tower,” is recognized as the tallest unfinished and uninhabited building in the world.
Construction began in 2008 but was halted just two years later during the Great Recession. Work on the project resumed in 2011, with an expected completion date between 2018 and 2019.
However, by September 2015, construction was once again suspended and has not resumed since. When work on Goldin Finance 117 was halted, the impressive skyscraper was the fifth tallest building in the world. It is now the tallest abandoned building in the world.
The “Goldin Finance 117” project was meant to be the centerpiece of a new financial district, symbolizing China’s economic power and progress.
The building was planned to have 128 floors, with 117 designed as hotel suites and office space, along with 11 floors for mechanical and operational services, four underground levels, and an observation deck at the top.
Unlike most other buildings of comparable size, it was designed to be inhabitable up to its highest point. Interestingly, in terms of the highest inhabitable floor alone, the “China 117” tower would be second only to the Burj Khalifa in Dubai. Unfortunately, the entire skyscraper remains completely uninhabited.
So where did it all go wrong? Some say the odds were stacked against the project from the beginning. For one, the developer, Goldin Group, was a new player in the Chinese market, and the lack of support from the Chinese government meant it had to fully self-finance the entire development project.
It was a risky venture, but if the company could pull it off, the rewards would have been worth it. Unfortunately, the 2008 financial crisis put even more pressure on Goldin.
By the time construction resumed in 2011, things were looking up despite some minor setbacks. However, in 2015, after a ceremony celebrating the skyscraper’s topping out at 597 meters, all construction work ceased.
Following the bursting of China’s stock market bubble, Goldin lacked the reserves to keep its stock price afloat, and its leaders could only stand by as the price plummeted.
Some argue that developing a luxury project in a second-tier city like Tianjin was a bad idea from the start, as it simply didn’t capture the interest of the elite it was meant to impress.
The abandoned “Goldin Finance 117” building today has a significant impact on Tianjin’s urban landscape. Despite being abandoned, the building has become a tourist attraction and a subject of interest for urban explorers and photographers.
Its future remains uncertain. There are speculations that the building could be repurposed or even demolished, but there are currently no concrete plans for its fate. Investors and city authorities face the challenge of finding a solution for this gigantic structure.
Following the failure of Goldin Group’s project, authorities issued a decree in 2020 significantly limiting the scale and number of skyscrapers being built across the country.
Standing as the tallest abandoned building in the world, it serves as a reminder of the fragility of human plans and economic forecasts. Its fate remains open, and its story is a testament to a time of great ambitions and their consequences.
