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TIANJIN | Goldin Finance 117 | 597m | 1957ft | 128 fl | On Hold

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#1 · (Edited by Moderator)
Architect: P&T
Structural designer: ARUP


UPDATE


600m Tall Under Construction In Tianjin

Published on 17-11-2008 by Skyscrapernews.com
Unlike the fanfare of Dubai there has been barely a whisper, but a new 600 metre tall tower is now under construction in the Chinese city of Tianjin.

Named China 117 Tower after the number of storeys within the building, the scheme is being developed by Hong Kong based developer, Goldin Properties, who plan on their scheme truly dominating the city of Tianjin with it's 11 and a half million population.

The tower has been designed by an as yet unnamed architect. It will contain 406,000 square metres of internal space with floors 1 to 92 consisting of offices and the upper part of the tower from levels 93 to 117 due to be occupied by an as yet unnamed six star hotel operator.

In total the tower will cost $820 million US to construct, although this budget goes up to $1.2 billion when the mall it will stand above is also included.

The scale of this is enormous with the mall due to boast some 316,000 square metres of space - this is about two thirds of the floor-space of the Pentagon in Washington DC but still less than half the current largest shopping mall in China, South China Mall and not enough to even make the global top 10.

Once completed China 117 Tower will be the tallest building in the country over 100 metres taller than Shanghai World Financial Centre. This is a record it will hold until Gensler's planned 632m tall Shanghai Centre goes up in the city it takes its name from recapturing them the title.

http://skyscrapernews.com/news.php?ref=1861










OLD NEWS



 昨(12)日,天津高新区国家软件及服务外包产业基地综合配套服务区首个建设项目——中国117大厦举行奠基仪式,标志着被列入本市发展现代服务业20项重点工程之一的天津高新区国家软件及服务外包产业基地已全面进入建设阶段。中国117大厦地下3层,地上117层,总设计高度在570米以上。

  据介绍,国家软件及服务外包产业基地综合配套服务区,占地83万平方米,规划建筑面积183万平方米,预计投资270多亿元人民币,产业主导区已于今年 10月开工建设。综合配套服务区由数幢企业总部大厦、金融服务中心、会展中心以及商业配套设施等建筑物组成,计划五年内建成,将实现产值超千亿元,安排就业10万人。

  作为综合配套服务区首个建设项目,中国117大厦集高档商场、写字楼、商务公寓和六星级酒店于一身,建成后将是天津高新区一张亮丽的“城市名片”,成为高新区乃至天津市极具代表性的标志性建筑。

http://news.enorth.com.cn/system/2007/12/13/002480257.shtml

Google Translator:

Yesterday (12), the national high-tech zones in Tianjin software and services outsourcing industry base integrated support services Region's first construction project - China 117 buildings held foundation stone laying ceremony, marking the city was included in the development of the modern service industry 20 key projects a national high-tech zones in Tianjin, software and services outsourcing industry base has entered the construction phase. China 117 Building, 3 layer, the ground 117 layer, the design height at 570 meters above.

According to a briefing, national software and services outsourcing industry base integrated support service area, covering 830,000 square meters, planning construction area 1.83 million square meters, is expected to invest more than 270 billion yuan, industry-led zone this year in October started on the building. Integrated support services area a few blocks from corporate headquarters building, financial services centers, exhibition centers and commercial facilities, and other building components, plans are completed within five years, will realize an output value of over 100 billion yuan, job placement 100,000 people.

As an integrated support service area first construction projects, China 117 buildings set luxury shopping malls, office buildings, apartments and business in a six-star hotel, and upon completion, will Tianjin high-tech zones is a beautiful "City name card" and become high-tech zones and the Tianjin the highly symbolic representation of the construction.


  快报讯(记者黄卫)昨日,天津高新区国家软件及服务外包产业基地综合配套服务区首
个建设项目——中国117大厦举行奠基仪式,标志着被列入本市发展现代服务业20项重点工程之一的天津高新区国家软件及服务外包产业基地已全面进入建设阶段。中国117大厦地下3层,地上117层,总设计高度在570米以上。

  据介绍,国家软件及服务外包产业基地综合配套服务区,占地83万平方米,规划建筑面积183万平方米,预计投资270多亿元人民币,产业主导区已于今年 10月开工建设。综合配套服务区由数幢企业总部大厦、金融服务中心、会展中心以及商业配套设施等建筑物组成,计划五年内建成,将实现产值超千亿元,安排就业10万人。

  作为综合配套服务区首个建设项目,中国117大厦集高档商场、写字楼、商务公寓和六星级酒店于一身,建成后将是天津高新区一张亮丽的“城市名片”,成为高新区乃至天津市极具代表性的标志性建筑。

http://tj.tianjindaily.com.cn/content/2007-12/13/content_346821.htm

Google Translator:

Express (Reporter Huang Wei) yesterday, the national high-tech zones in Tianjin software and services outsourcing industry base in the first comprehensive supporting Service Area
Construction projects - China 117 buildings held foundation stone laying ceremony, marking the city was included in the development of the modern service industry 20 key projects in Tianjin, one of the high-tech zones national software and services outsourcing industry base has entered the construction phase. China 117 Building, 3 layer, the ground 117 layer, the design height at 570 meters above.

According to a briefing, national software and services outsourcing industry base integrated support service area, covering 830,000 square meters, planning construction area 1.83 million square meters, is expected to invest more than 270 billion yuan, industry-led zone this year in October started on the building. Integrated support services area a few blocks from corporate headquarters building, financial services centers, exhibition centers and commercial facilities, and other building components, plans are completed within five years, will realize an output value of over 100 billion yuan, job placement 100,000 people.

As an integrated support service area first construction projects, China 117 buildings set luxury shopping malls, office buildings, apartments and business in a six-star hotel, and upon completion, will Tianjin high-tech zones is a beautiful "City name card" and become high-tech zones and the Tianjin the highly symbolic representation of the construction.
 
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#3,258 ·
I wonder how much of the construction cost of the tower would still have to be invested. If I look at the picture, it should not be more than 20%. Maybe even 10%. A significant share of the construction costs goes into the foundation. The concrete structure is already completed and the facade is already half completed. So whoever would continue construction now, could complete the whole tower for a tiny fraction of the costs. That would certainly be very profitable. The only problem is to make the current developer sell the unfinished tower. It should be possible to force him to sell. That even is possible in countries that are not as authoritarian as China. Even in a democracy you can't leave an building uncompleted. If you do, you can be forced to sell it, so that someone else will complete it. The market will decide the price. So the old developer might have to sell the unfinished tower for a very low price. I really wonder why that is not done in China. There are so many towers on hold in China. Even in booming cities like Guangzhou. There even is one just 300 metres from CITIC Plaza. I took this photo in 2006 and today it still looks the same:


China tries to address that problem by restricting heights, but the building above does not even reach the 250 metre height limit, is located in one of the best locations in the city and still it is standing around as a ruin. Why doesn't China just impose ultimatums? My idea: If you apply for a construction permit, you have to prove sufficient funds to complete at least 60% of the building and you have to tell a completion year. You get a grace period of two years of so and if you do not complete the building by then, you can be forced to sell it. Height limits only prevent those uncompleted buildings from being too visible in the skyline, but at the same time those height limits also prevent the construction of buildings, if the developer has enough money to build them.

In some countries you only get a building permit, if you already have enough tenants or buyers for that building. That way it is made sure that you will never run out of money to build it. Forcing developers to have tenants before the building is even built is quite extreme, but it seems to work. In China that works very well for aparment towers. They are often completely sold even before construction has begun. That's why you never see an uncompleted apartment tower in a major city like Guangzhou, Shanghai or even Tianjin.
 
#3,260 ·
If you apply for a construction permit, you have to prove sufficient funds to complete at least 60% of the building and you have to tell a completion year. You get a grace period of two years of so and if you do not complete the building by then, you can be forced to sell it.
The Ministry of Housing and Urban-Rural Development needs to hire you!
 
#3,262 ·
I wonder how the maintenance costs of a 600 metre tower compares to those of 2 300 metre towers for example. Does the less usuable floor space and more elevators make it much more expensive? Even in a market with low demand for office space the highest office space in the city should be very desirable though. That is the reason why many tall buildings are profitable. Companies pay a premium to be as high as possible. I can't understand why Shanghai Tower was mostly empty before the Four Seasons moved in. Did Shanghai Tower just demand an extraordinary amount of rent per square metre? Wouldn't offereing a low rent still be better than letting office space stay empty?

I also thought that maintenance is much cheaper in China than elsewhere because of cheap labour that is widely available. Buses can also only be that cheap because of low paid bus drivers and hotels in China have much more staff than elsewhere, because staff is so cheap.
 
#3,263 ·
I can't understand why Shanghai Tower was mostly empty before the Four Seasons moved in. Did Shanghai Tower just demand an extraordinary amount of rent per square metre?
There is an article about it here: Why Shanghai Tower Failed

Shanghai Tower is an amazing masterpiece, but it was a disaster.
 
#3,264 ·
I saw that video, but The B1M always is very pessimistic. Yesterday they published a video on their second channel that sounded very pessimistic about hyperloops. I still see Shanghai Tower as a success at least for the city. It is like the Sydney Opera House that got 14 (!) times as expensive as planned. I do not know if it ever became profitable, but I can't imagine Sydney without it. I wish Shanghai would add more megatall buildings. They could still fill them with government offices :)
 
#3,267 ·
Say what you will, but the old girl is very commandeering in any photo she's in

 
#3,269 ·
Come check out my Sketchup model of Goldin Finance 117! (2022 Edition)

 
#3,270 ·
Goldin Finance 117 on Sketchfab

 
#3,281 ·
From Billionaire To Possible Bankruptcy: Pan Sutong’s Battle To Save His Real Estate Empire
Forbes Excerpt
Sept 17, 2022

Pan Sutong’s empire at its peak had few rivals. The 59-year-old property mogul had once amassed a $12.2 billion fortune that included a palatial mansion in Hong Kong virtually next door to the city’s wealthiest person, Li Ka-shing. He owned vineyards in California and France, as well as a horse-breeding and training ground in Australia stretched across more than 1,200 acres.

Despite having never finished high school, Pan managed to build his Goldin Group into a sprawling conglomerate spanning consumer electronics, winemaking, financial services and, most important of all, property. His master plan was to build Goldin Metropolitan, a sprawling mini-city in Tianjin, a port of about 14 million people some 85 miles southeast of Beijing. His project would encompass 12 tower blocks, 33 mansions and the tallest skyscraper in China, rising 117 stories into the air.

But Pan’s plans are now unraveling under a mountain of debt. Work on his pet project has largely ground to a halt and creditors are seeking the liquidation of his companies in both Hong Kong and Bermuda. Even his mansion in Hong Kong had to be remortgaged multiple times to raise much-needed cash. The once flamboyant entrepreneur, who rose as high as No. 6 on the Hong Kong wealth ranking just five years ago, now faces an uphill battle just to stay afloat.

More : From Billionaire To Possible Bankruptcy: Pan Sutong’s Battle To Save His Real Estate Empire
 
#3,282 ·
From Billionaire To Possible Bankruptcy: Pan Sutong’s Battle To Save His Real Estate Empire
Forbes Excerpt
Sept 17, 2022

Pan Sutong’s empire at its peak had few rivals. The 59-year-old property mogul had once amassed a $12.2 billion fortune that included a palatial mansion in Hong Kong virtually next door to the city’s wealthiest person, Li Ka-shing. He owned vineyards in California and France, as well as a horse-breeding and training ground in Australia stretched across more than 1,200 acres.

Despite having never finished high school, Pan managed to build his Goldin Group into a sprawling conglomerate spanning consumer electronics, winemaking, financial services and, most important of all, property. His master plan was to build Goldin Metropolitan, a sprawling mini-city in Tianjin, a port of about 14 million people some 85 miles southeast of Beijing. His project would encompass 12 tower blocks, 33 mansions and the tallest skyscraper in China, rising 117 stories into the air.

But Pan’s plans are now unraveling under a mountain of debt. Work on his pet project has largely ground to a halt and creditors are seeking the liquidation of his companies in both Hong Kong and Bermuda. Even his mansion in Hong Kong had to be remortgaged multiple times to raise much-needed cash. The once flamboyant entrepreneur, who rose as high as No. 6 on the Hong Kong wealth ranking just five years ago, now faces an uphill battle just to stay afloat.

More : From Billionaire To Possible Bankruptcy: Pan Sutong’s Battle To Save His Real Estate Empire
Well crap...
 
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