TIANJIN  -  Construction of the world’s tallest unoccupied skyscraper may resume as early as next week, almost 10 years after work ground to a halt, according to Chinese state media. The 597-meter-tall (1,959-foot) Goldin Finance 117, which topped out in the northern Chinese port city of Tianjin but has stood unfinished since 2015 amid major financial difficulties, is now expected to complete in 2027. At 117 stories high, the tower was set to be China’s tallest skyscraper when it broke ground in 2008. The soaring structure was built using “mega columns” to protect against strong winds and earthquakes, while its “walking stick” design was topped by a diamond-shaped atrium containing a swimming pool and observation deck. It was set to contain offices and a five-star hotel on the upper floors, according to architects P&T Group.

But the project came to a standstill following the 2015 Chinese stock market crash that plunged the future of Hong Kong-based Goldin Properties Holdings into doubt. The real estate developer, whose founder Pan Sutong was once among Hong Kong’s richest businessmen, has since gone into liquidation. A new construction permit — which reportedly lists a contract value of almost 569 million yuan ($78 million) — suggests the defunct developer’s title may have been dropped from the building’s name, according to state media. It is unclear whether plans for the “supertall” skyscraper’s use remain unchanged. Neither P&T Group nor BGI Engineering Consultants, the state-owned company named on the permit, responded to CNN’s requests for comment. Over the last decade, the abandoned skyscrapers littering China’s skylines have become emblematic of the country’s real estate woes. In 2020, its housing ministry and National Development and Reform Commission issued guidelines banning new towers over 500 meters (1,640 feet) in height — a move seemingly aimed, in part, at reining in the speculative financing often underpinning skyscraper projects. On Monday, China’s Greenland Group announced that work is also resuming on the previously stalled Chengdu Greenland Tower in the southwestern city of Chengdu, local state-owned media reported. Construction of the 468-meter-tall (1,535-foot) skyscraper has been on hold since 2023, after the state-owned developer encountered financial difficulties, according to Reuters. The fact that two high-profile projects are resuming at the same time is unlikely to be a coincidence, said Qiao Shitong, a law professor at Duke University School of Law and the author of two books on Chinese real estate. “The national government has made it clear it wants to stabilize the real estate market,” said Qiao over a video call, adding that it has been encouraging local governments to help “revive” the struggling sector. “It is signaling to the market — (it’s) not only about the skyscrapers themselves.”