The Goldin Finance 117 building is getting built again! Never herald of this name? Well, this skyscraper is one of the tallest buildings in the world, but it was abandoned for 10 years. Now, they are focusing again on the Goldin Finance 117 to finish its construction. Let’s read more about this building’s history and the reason behind the abandonment.
Goldin Finance 117 and its history
Goldin Finance 117 is one of the highest skyscrapers in the world and the tallest abandoned buildings ever, you can find it in the north of China. How did this all start?
In 2008, the building was getting its first construction activity. The aim of the P&T Group company for this construction was to become the tallest building in China and spread this to a worldwide record. It is 1,959 feet high and it has around 11 stories, including offices and even a 5 stars hotel. An important aspect of this building is the fact that it was built using advanced technology to make it tough against earthquakes, which are very common in China. Some other countries like the United States of America are taking this issue into account when building their houses.
The abandoned building
In 2015, China experienced a financial crisis and the Goldin Finance 117 construction had to stop. One of the affected companies was the one in charge of the skyscraper, Goldin Properties Holding which had to close. From this moment, the building was abandoned and considered a monument representing the ambition of China and the real estate bubble failure.
This crisis affected many construction projects in the country, for example the Greenland Tower is 1,535 feet high and it was stopped from being finished in 2023 because the company behind the project (Greenland Group) experienced the same thing as the Goldin Properties Holding company.
Getting into construction again
According to CNN, Chinese authorities have allowed the resumption of the construction of the Goldin Finance 117 from May 2025. It is estimated this construction costs around $77.5 millions and the companies involved in this project are P&T Group again and BGI Engineering Consultants. However, Golding Properties Holding will not be in charge of the reconstruction of the skyscraper, but there is no information about new names for the funding of the project.
More buildings in the talks
Another building on the list of being built again is the previously mentioned Greenland Tower. This action is more common than you might think because many projects were getting built without having in mind the low demand of these in the country. So, the companies involved went bankrupt and the buildings were not finished until now, a time of finishing what they had started.
There is no evidence on whether the final construction would become a source of income for the country as they are not sure about the occupancy rate. They do not know if there will be enough companies or tourists to access these buildings. It is said this resumption is to regain confidence from citizens in the Chinese government. We will see if they are right.
There is a lot to take from this story. Apart from the financial history of China, we can also figure out a way of learning how to deal with risks. Sometimes we tend to go for the biggest or the most expensive thing, but in the end you are being an ambitious person as the companies involved in the constructions. Take the example of Goldin 117 which was a project to show the economic power of China and it became abandoned because of the economic crisis.