Chang Liu from Yifang Group said the company has its sights set on Australia. Picture: John Appleyard

A recent estimate from Juwai.com puts the figure of Chinese developers’ investment in Australian real estate in 2015 at about $5 billion.

Local projects have become a priority for major players in China, such as Dalian Wanda, headed by China’s richest man Wang Jianlin, which scored development approval for its $1-billion No. One Sydney project in Circular Quay late last year.

The twin-tower complex, which will include a five-star hotel, residential and commercial space, will stand at what is currently the site of Gold Fields House and the adjoining Fairfax House.

Yifang Group’s recent debut in Australia shows this is just the beginning of the trend.

The Chinese developer, which has been in the business in China for 15 years, is launching their first local residential project, Quartet, in Lane Cove in early March.

Yifang Group's next project comes hot on the heels of the 237-apartment Quartet.Source:Supplied

Back in China, they are known more for their large-scale commercial projects, including the two billion-yuan (AUD$425.95 million) Castle Hotel in the booming city of Dalian in northeastern China.

Yifang’s vice president Chang Liu said they intended to be active in Australia for the long-run.

“As an Australian-Chinese developer, Yifang will have a long future in Australia due to its commitment to delivering world-class projects that feature harmonious and sustainable design,” she said.

Chang Liu from Yifang Group said the company has its sights set on Australia. Picture: John AppleyardSource:News Limited

Yifang is fast on its feet and has already acquired another development site in Sydney’s northern districts, but remained tight-lipped about the details of the project.

A Sydney-based buyers’ agent, who has a major Chinese developer clientele, said the weak Australian dollar against the Chinese yuan essentially gave them a 30 per cent discount.

“It is perceived as ‘cheap’,” the buyers’ agent said, who did not want to be named.

“Sydney in particular has an underlying undersupply of housing and there is a strong demand for rental accommodation in well located areas.”

Richard Butler, CBRE’s senior managing director of international investments, said investment from Chinese developers in Australia was “obviously” on the rise.

“With the yuan potentially weakening, they want to get money out so they can feed income back off of stronger currency,” he said, adding that foreign developers gain more equity when making Australian dollars.

He said Australian developments would not have taken off without foreign investment.

“The construction industry would collapse unless we were creating those properties; they’re employing Australian engineers, Australia architects and Australian builders.

“Australia needs foreign investment.”

Mr Butler said areas with access to public transport were popular hot spots among Chinese developers including the Sydney CBD, Epping, Macquarie Park, Parramatta and Homebush.