TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Skyscraper put up at auction for $84 million

  (Agence France-Presse)
Beijing, China
Tue, December 26, 2017 Published on Dec. 26, 2017 Published on 2017-12-26T15:10:17+07:00

Change text size

Gift Premium Articles
to Anyone

Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Woman posing in front of a booth of the Alibaba Group, from China. Alibaba is set to launch 24-hours online shopping spree on Thursday. Woman posing in front of a booth of the Alibaba Group, from China. Alibaba is set to launch 24-hours online shopping spree on Thursday. (Shutterstock/Pieter Beens)

A

Chinese court is auctioning a skyscraper on the country's largest e-commerce website -- with a sky-high starting price of 553 million yuan ($84.2 million).

The 39-floor building in Taiyuan, northern Shanxi province, along with the land on which it sits, goes on the block January 2 on Taobao, Alibaba's e-commerce platform.

Construction on the skyscraper began in 2006. Standing 156 metres high and with over 76,000 square metres of floor space, it was originally designed to be a hotel, state media Xinhua reported Monday.

But the project was suspended due to lack of funding after major construction work was completed in 2010, according to a statement by the Shanxi Provincial Higher People's Court, Xinhua said.

Photos of a dimly-lit underground parking lot and unfinished building interior with dusty floors piled with construction materials were posted by the court on the auction page.

Almost all Chinese courts have set up accounts on Taobao's judicial auction platform for more efficient and transparent handling of assets seized in lawsuits, according to Xinhua.

Apartment buildings, cars, confiscated jewelry and mobile phones are all being auctioned by authorities on the e-commerce platform.

In November, a 28-floor building was put up for auction at a starting price of 219 million yuan by a local court in northeastern Zhejiang province.

But the auction was not successful as no one bid for the item.

Your Opinion Matters

Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.

Enter at least 30 characters
0 / 30

Thank You

Thank you for sharing your thoughts. We appreciate your feedback.

Share options

Quickly share this news with your network—keep everyone informed with just a single click!

Change text size options

Customize your reading experience by adjusting the text size to small, medium, or large—find what’s most comfortable for you.

Gift Premium Articles
to Anyone

Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!

Continue in the app

Get the best experience—faster access, exclusive features, and a seamless way to stay updated.