Cover Story: China Restarts Stalled Property Megaproject in State-Led Takeover

China has restarted one of its most prominent abandoned private megaprojects as part of a state-led restructuring of distressed real estate assets.

The 596-meter (1,955-foot) 117 Tower in Tianjin, once a symbol of private-sector debt excess, has resumed construction after a decade of stagnation. The restart followed a state-backed takeover of the project.