Goldin Properties (Tianjin) has sold its six ongoing construction projects, including Goldin Finance 117 in Tianjin, one of the world's tallest abandoned skyscrapers, with a reserve price of 8.67 billion yuan (HK$9.55 billion) at auction, according to mainland media.
The auction attracted only one bidder and concluded with a single bid.
The buyer was the state-owned Tianjin Tianxin Huachuang Group, with no safety construction cost covered in the deal.
The assets included the world's tallest unoccupied building, Goldin Finance 117, commercial properties, residences, and so on.
With a proposed height of 597 meters and 117 stories, Goldin Finance 117 began construction in 2008 and was set to be the second-tallest building in the world at the time, behind Burj Khalifa Tower in Dubai.
The building's development stalled at 101 floors after its developer Goldin Properties suffered a cash crunch in 2015.
In 2016, China Cinda Asset Management (1359) intervened in the project.
The construction of Goldin Finance 117 was resumed in April this year and is expected to be completed by 2027.
