possessing verbs?

[tomtomkool45]

why is it now that in a lot of writing, especially books from the USA, and increasingly, i am seeing, for example: '....despite its being built......'.
is this some sort of Americanism? or is it now common to do?
i always thought it should be: despite it being built....
any help?

[Casiopea]

'....despite its being built......'. / despite it being built....

The general rule is, use a possessive pronuon with a gerund,

. . . despite its being built . . . . (meaning, despite this one characteristic)