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The “Chinese eBay” will auction a skyscraper that was half-built due to financial problems

The building will have an exit price of 84 million dollars, according to the Chinese judicial authorities

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Shenzhen
Shenzhen

The Taobao e-commerce platform, a Chinese equivalent to eBay, will auction a 156-meter skyscraper next week whose developer was unable to complete the work due to budget problems, at a starting price of 84 million dollars, Chinese judicial authorities announced today.

The High Court People’s Court of the province of Shanxi (north) announced the auction of the building, a building of 39 floors by which Internet users can bid on 2 and 3 January.

The building, with more than 76,000 square meters of combined surface area, is located in the city of Taiyuan, capital of the aforementioned province, and was initially an investment of the Shanxi Jinhao International Hotel, which began work in 2006.

The developer had to stop construction in 2010, one year before the scheduled date for the inauguration and when the main structure was completed, due to financial problems that ended up causing the local courts to seize the building in construction.

This year, that platform has also become famous for having successfully auctioned off three other large assets: three Boeing 747 aircraft from a local bankrupt carrier, which were sold successfully in two bids at the total price of 71 million dollars.

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