China’s richest man, Wang Jianlin, has committed $HK12.5 billion ($1.7 billion) to invest in Australian real estate including the construction of a $900 million beachfront resort on the Gold Coast.

Property experts say the deal could herald a new dawn of Chinese property investment in Australia.

Big losses: Billionaire Wang Jianlin. Credit:Bloomberg

Mr Wang, the chairman of the Hong Kong-listed Wanda Group, took over the top spot on the Forbes China Rich List for the first time last year after a rebound in property prices.

In a statement to the exchange, Wanda said it would pay for the new resort, known as The Jewel, through internal resources and a mixture of debt and equity.