Latest news with #GoldinFinance117
New York Post
01-05-2025
- Business
- New York Post
The world's tallest unoccupied building to resume construction — after a decade-long shutdown
China's 'walking stick' skyscraper now has some new legs. Construction on the Goldin Finance 117 tower in Tianjin is set to resume after 10 years, CNN Style reported. Progress on the 1,959-foot-tall tower — making it the tallest unoccupied building in the world — stalled after the Chinese stock market crash of 2015. Now, a new construction permit means that this 'ghost tower' can progress towards a projected completion date of 2027. 6 The tower rises 1,959 feet above Tianjin. NurPhoto via Getty Images 6 China 117 topped out in 2015 before progress ground to a 10-year halt. NurPhoto via Getty Images 6 The completion of the tower may be a part of a broader push by China to stabilize its fraught real estate market. CFOTO/Future Publishing via Getty Images Chinese state media announced last week that construction of the 117-story tower, aptly nicknamed 'China 117,' could resume, CNN Style reported. Daring urban explorers have flocked to the imposing structure over the past decade, chronicling their death-defying climbs in viral videos, including Russian couple Angela Nikolau and Ivan Kuznetsov in 2016. The skyscraper, which broke ground in 2008, was constructed with a system of 'mega columns' to brace it against strong winds and earthquakes. The impressively lean tower was designed to host three office zones and a five-star hotel on the upper floors, according to architects P&T Group. A diamond-shaped atrium containing a pool and an observation deck will top the building. 6 Four 'mega columns' run up the 117-story tower. NurPhoto via Getty Images 6 The tower was designed to host three office zones and a five-star hotel on the upper floors, according to the architect. NurPhoto via Getty Images Goldin Properties Holdings, the Hong Kong-based real estate developer behind the site, has since gone into liquidation, CNN reported. The edifice was originally destined to be the centerpiece of a larger, mixed-use development catering to the upper echelons of the northern port city. CNN Style reported that the wider development scheme for attractions like a convention center and a polo club remains uncertain, but the new permit reportedly nods to 'commercial corridors.' 6 The skyscraper stands much taller than its neighbors. CFOTO/Future Publishing via Getty Images The resumption of construction on both the Goldin Finance 117 Tower and the Chengdu Greenland Tower — a 1,535-foot skyscraper that has been on hold since 2023 — coincides with frequent headlines about China's abandoned skylines and ghost cites. 'The national government has made it clear it wants to stabilize the real estate market,' said Qiao Shitong, a law professor at Duke University School of Law and expert on Chinese real estate, told CNN Style.
Yahoo
29-04-2025
- Business
- Yahoo
Goldin Finance 117, the World's Tallest Abandoned Skyscraper, Will Resume Construction After a Decade Pause
Photo: CFOTO/In September 2015, Guinness World Records officially named Goldin Finance 117, a 1,959-foot-tall abandoned skyscraper, in Tianjin, China, the world's tallest unoccupied building. At the time, developers deserted the 128-story project before it was completed due to significant financial difficulties. However, according to CNN, the structure may soon not be completely abandoned: The building is expected to resume construction early next week. Here's the story behind the infamous building. Goldin Finance 117 was designed by P&T Group, a firm based in Hong Kong known for its work throughout Asia. The building was intended to be the centerpiece of the Goldin Metropolitan Scheme, a mixed-use development that would cater to the ultrarich, and was planned to include residential, hospitality, and commercial space. Goldin Properties was the developer. Construction first began in 2008, and at the time, the building was expected to finish in 2014 and be the country's tallest. However, progress was halted in 2010 following cascading impacts from the Great Recession. Construction restarted in 2011, and the building was projected to be completed in 2018 or 2019. In 2015, it topped out—that is, the frame was finished—but construction was once again suspended shortly after. For the past decade, it has stood abandoned and unfinished. Serious financial headwinds following China's stock market crash in 2015 forced Goldin Properties to liquidate, resulting in the abandonment of Goldin Finance 117. Later, the unfinished building became a sky-high symbol of the country's broader real estate problems, which stemmed from over-investment in real estate and reckless borrowing from developers. It is one of many unfinished real estate projects throughout China According to CNN, which cites Chinese state media, Goldin Finance 117 is now expected to be completed in 2027. The new financing details were not announced, though some experts believe that the government has invested and offered debt restructuring to help revitalize the building. '[Supertall skyscrapers] are not necessarily the most efficient projects and they are not necessarily making profits, but they are indicators,' Qiao Shitong, an author of two books about Chinese real estate and a law professor at Duke University School of Law, told CNN. 'By having this project revived and completed, the government at least hopes it can increase people's confidence.' It is unclear if Goldin Finance 117 will remain a mixed-used building, as originally planned, or if new investors will change its use. Though it was planned as China's tallest building, it will not hold this record when finished. Instead, it will be the country's third tallest, as Shanghai Tower, standing at 2,073 feet, was completed in 2015 and Ping An International Finance Center (1,966 feet) was finished in 2017. Originally Appeared on Architectural Digest More Great Stories From AD Not a subscriber? Join AD for print and digital access now. Inside Lenny Kravitz's Regal Paris Refuge Hanging Chairs Are the Ideal Spring Seating Tour a Rhode Island Barn Transformed Into a Studio for Two Artists
Scottish Sun
29-04-2025
- Business
- Scottish Sun
Fresh hope for Europe's tallest abandoned skyscraper as millionaire buyer on brink of snapping up 800ft half-built ruin
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) HOPES for Europe's tallest abandoned building have been revived - after a real estate tycoon has been given more time to seal the deal. Dieter Becken, 75, has been given a few more weeks to secure the funds to buy and complete the unfinished Elbtower skyscraper in Hamburg, Germany. Sign up for Scottish Sun newsletter Sign up 4 The partially complete Elbtower currently stands 328ft tall in Hamburg, Germany Credit: Getty 4 Dieter Becken has tasked himself with finishing the skyscraper - envisioned to be 800ft tall Credit: Getty 4 Concept images show the plans for the skyscraper Originally slated to soar to 800 feet, the structure currently sits at a mere 328 feet. Becken now has until June 2025 to obtain the cash and finalise a deal to buy the tower, according to Hamburger Abendblatt. He previously had until the end of April but the insolvency administrator has now announced an extension. The administrator said: "This agreement is thus extended by the period necessary for the continuation and possible conclusion of the negotiations between the parties." The defiant millionaire said earlier this month: "I believe in this outstanding project." Construction on the ambitious project began in 2021. But the project was halted in 2023, after Austrian investor Rene Benko, 47, went bankrupt. The skyscraper is located in Hamburg's Hafen City district, near the city's famous Elbphilharmonie concert hall. The building was set to host a Nobu hotel and restaurant, risk adviser Aon and a local bank. If completed, the tower would be, by far, the tallest building in Hamburg and the third tallest in Germany. It will be 210 feet taller than the Gherkin and around 217 feet shorter than the Shard in London. The construction costs amount to 700 million euros (£587 million), according to estimates by PropertyEU. World's tallest skyscraper left half built & abandoned that stands 3x taller than Shard will be finally FINISHED by 2029 It comes as construction will be resumed on a giant skyscraper in China that has stood unfinished for nearly a decade. Work on Goldin Finance 117, nicknamed The Walking Stick due to its architectural shape, came to an abrupt halt in 2015 following the Chinese stock market crash. The "ghost-scraper" has loomed large over the northern city of Tianjin ever since. At a whopping 1,959 feet, it is nearly twice as tall as The Shard. But it won't get to claim the title as China's tallest building. Two bigger skyscrapers, the Shanghai Tower and Shenzhen's Ping An Finance Centre, have both been completed since. 4 The Elbtower, at 328ft tall, is Europe's tallest abandoned building
The Irish Sun
29-04-2025
- Business
- The Irish Sun
Fresh hope for Europe's tallest abandoned skyscraper as millionaire buyer on brink of snapping up 800ft half-built ruin
HOPES for Europe's tallest abandoned building have been revived - after a real estate tycoon has been given more time to seal the deal. Dieter Becken, 75, has been given a few more weeks to secure the funds to buy and complete the unfinished Elbtower skyscraper in Hamburg, Germany. Advertisement 4 The partially complete Elbtower currently stands 328ft tall in Hamburg, Germany Credit: Getty 4 Dieter Becken has tasked himself with finishing the skyscraper - envisioned to be 800ft tall Credit: Getty 4 Concept images show the plans for the skyscraper Originally slated to soar to 800 feet, the structure currently sits at a mere 328 feet. Becken now has until June 2025 to obtain the cash and finalise a deal to buy the tower, according to Hamburger Abendblatt. He The administrator said: "This agreement is thus extended by the period necessary for the continuation and possible conclusion of the negotiations between the parties." Advertisement Read more on skyscrapers The defiant millionaire said earlier this month: "I believe in this outstanding project." Construction on the ambitious project began in 2021. But the project was halted in 2023, after Austrian investor Rene Benko, 47, went bankrupt. The skyscraper is located in Hamburg's Hafen City district, near the city's famous Elbphilharmonie concert hall. Advertisement Most read in The Sun The building was set to host a Nobu hotel and restaurant, risk adviser Aon and a local bank. If completed, the tower would be, by far, the tallest building in Hamburg and the third tallest in Germany. It will be 210 feet taller than the Gherkin and around 217 feet shorter than the Shard in London. The construction costs amount to 700 million euros (£587 million), according to estimates by PropertyEU. Advertisement World's tallest skyscraper left half built & abandoned that stands 3x taller than Shard will be finally FINISHED by 2029 It comes as Work on Goldin Finance 117, nicknamed The Walking Stick due to its architectural shape, came to an abrupt halt in 2015 following the Chinese stock market crash. The "ghost-scraper" has loomed large over the northern city of Tianjin ever since. At a whopping 1,959 feet, it is nearly twice as tall as The Shard. Advertisement But it won't get to claim the title as China's tallest building. Two bigger skyscrapers, the Shanghai Tower and Shenzhen's Ping An Finance Centre, have both been completed since. 4 The Elbtower, at 328ft tall, is Europe's tallest abandoned building What is the world's tallest abandoned building? By Lydia Doye Goldin Finance 117 in Northern China is the tallest abandoned building in the world. At 1,957ft, the building is twice the height of the Shard. If finished, the building would have been the fifth-tallest in the world. It was planned to have a total of 128 floors with luxury housing, hotels, and commercial space. It also had plans to be topped with a three-storey diamond-shaped atrium The construction of Goldin Finance 117 began in 2008, as part of an ambitious £8billion project. Construction was suspended in 2010 because of the recession, and stopped indefinitely in 2015. The building was dubbed "The Walking Stick" because of its structural shape.
The Sun
29-04-2025
- Business
- The Sun
Fresh hope for Europe's tallest abandoned skyscraper as millionaire buyer on brink of snapping up 800ft half-built ruin
HOPES for Europe's tallest abandoned building have been revived - after a real estate tycoon has been given more time to seal the deal. Dieter Becken, 75, has been given a few more weeks to secure the funds to buy and complete the unfinished Elbtower skyscraper in Hamburg, Germany. 4 4 Originally slated to soar to 800 feet, the structure currently sits at a mere 328 feet. Becken now has until June 2025 to obtain the cash and finalise a deal to buy the tower, according to Hamburger Abendblatt. He previously had until the end of April but the insolvency administrator has now announced an extension. The administrator said: "This agreement is thus extended by the period necessary for the continuation and possible conclusion of the negotiations between the parties." The defiant millionaire said earlier this month: "I believe in this outstanding project." Construction on the ambitious project began in 2021. But the project was halted in 2023, after Austrian investor Rene Benko, 47, went bankrupt. The skyscraper is located in Hamburg's Hafen City district, near the city's famous Elbphilharmonie concert hall. The building was set to host a Nobu hotel and restaurant, risk adviser Aon and a local bank. If completed, the tower would be, by far, the tallest building in Hamburg and the third tallest in Germany. It will be 210 feet taller than the Gherkin and around 217 feet shorter than the Shard in London. The construction costs amount to 700 million euros (£587 million), according to estimates by PropertyEU. It comes as construction will be resumed on a giant skyscraper in China that has stood unfinished for nearly a decade. Work on Goldin Finance 117, nicknamed The Walking Stick due to its architectural shape, came to an abrupt halt in 2015 following the Chinese stock market crash. The "ghost-scraper" has loomed large over the northern city of Tianjin ever since. At a whopping 1,959 feet, it is nearly twice as tall as The Shard. But it won't get to claim the title as China's tallest building. Two bigger skyscrapers, the Shanghai Tower and Shenzhen's Ping An Finance Centre, have both been completed since. 4 What is the world's tallest abandoned building? By Lydia Doye Goldin Finance 117 in Northern China is the tallest abandoned building in the world. At 1,957ft, the building is twice the height of the Shard. If finished, the building would have been the fifth-tallest in the world. It was planned to have a total of 128 floors with luxury housing, hotels, and commercial space. It also had plans to be topped with a three-storey diamond-shaped atrium The construction of Goldin Finance 117 began in 2008, as part of an ambitious £8billion project. Construction was suspended in 2010 because of the recession, and stopped indefinitely in 2015. The building was dubbed "The Walking Stick" because of its structural shape.
