Shui On Group, privately owned by Vincent Lo Hong-sui, is expanding its mainland investments with a 17 million square foot residential project in Shanghai.
Mr Lo said the project would increase the group's mainland property portfolio to 40 million sq ft of floor area, representing 30 per cent of its assets.
Most of its land was in Shanghai, with some in Beijing and Guangzhou.
The group was optimistic about the property market and would continue its expansion in the mainland, he said.
Mr Lo said the first phase of the new project was still being planned, and involved about 600,000 sq ft.
Shui On also is developing Rui Hong Xin Cheng, a 18,000-unit housing project, in Hongkou district. Phase 1 of that project, costing about $1 billion and comprising 10 blocks and 1,800 units, is under way.