Chinese property heavyweight Dahua Group has outmuscled local developers to snap up a billion-dollar land pipeline in a buying spree that has handed a wealthy family, a syndicate of landowners and two young property players a $347 million windfall.

Dahua Group's purchase of three large land parcels in Point Cook in Melbourne's west for $347 million mirrors a year-long buying spree in Sydney's south-west that had the Shanghai-based group spend more than $400 million on a three growth area sites in Bardia and Menangle Park.

The east coast land purchases, along with several city-based projects in Sydney and Melbourne, will catapult China's 310th richest man into one of the Australia's largest land developers with a potential pipeline of 8750 lots worth more than $2.5 billion.

Little is known about Dahua's Jin Huiming, who is ranked 310 on Forbes' China rich list. His company – previously a collective – is estimated to be worth about $1.1 billion and is among the country's top 50 developers.