China's "abandoned giant" is being rebuilt

Construction of the Goldin Finance 117 skyscraper, known in China as the "abandoned giant", has resumed. New photos have surfaced online showing the construction of the 597-meter-high structure. It is currently the tallest unfinished skyscraper in the world.

The Goldin Finance 117 project began in 2008 and was originally planned to be the tallest building in China. The 117-story complex is being built using large structures known as "megacolumns" to increase its resistance to strong winds and earthquakes.

The building's exterior is unique, reminiscent of a cane. A diamond-shaped structure is planned at the top, which will house an atrium, a swimming pool and a platform for observing the city from above. According to the project by the architectural firm P&T Group, the upper floors are planned to house offices and a five-star hotel.

**Reasons for the construction to be halted for nearly 10 years**

A sharp decline in the Chinese stock market in 2015 led to the suspension of construction of Goldin Finance 117. The financial crisis also jeopardized the future of Hong Kong's Goldin Properties Holdings, which is implementing the project. The company's founder, Pan Sutun, was once one of Hong Kong's richest businessmen, but Goldin Properties Holdings later went into liquidation. As a result, the almost-completed giant skyscraper remained unfinished for years.

According to sources, construction of Goldin Finance 117 resumed last spring and the facility is planned to be fully completed by the end of this year.

**The impact of the 500-meter limit in China**

Goldin Finance 117 is significant in another respect. China has subsequently introduced restrictions on the construction of new buildings exceeding 500 meters in height. However, since Goldin Finance 117 had already surpassed the 500-meter mark before these requirements came into effect, its construction was allowed to continue. Thus, it may become one of the last skyscrapers in China to exceed the 500-meter mark.

**Ranking Changes**

The long construction pause also affected Goldin Finance 117's position in the skyscraper rankings. When the project began, it was expected to be the tallest building in China. However, during the years of construction pause, it was surpassed by the Shanghai Tower and the Ping An Finance Center in Shenzhen. Therefore, upon completion, Goldin Finance 117 will be the third tallest in China and the sixth tallest in the world.

However, if two other mega-projects, such as the kilometer-high Jeddah Tower in Saudi Arabia and the Burj Azizi in Dubai, are completed by the end of the decade, Goldin Finance 117 could fall to eighth place in the world ranking.

Thus, Goldin Finance 117, which has been stalled for almost a decade, is on the verge of transforming from a symbol of the problems in the Chinese real estate market into a full-fledged business center.