Chief financial officer Geffrey Liu said the group would look at one to two overseas projects each year with a value of about $1 billion each. It has already completed its first deal in Sydney and is expected to look to Melbourne for opportunities.

The group says the increase in core profit was mainly attributable to its investment property leasing and property management business, as well as sales of properties.

Dalian also owns and operate 107 Wanda retail plazas across Asia, as well as having 62 hotels in 53 cities. By the end of 2014, the group had already acquired land for the development of overseas hotel projects in London, Los Angeles, Chicago, Madrid and Brisbane, to provide a foundation for Wanda Hotel's expansion into international markets.

"In 2014, while the real estate industry was in a recession which resulted in a slight decrease in the gross profit margin of properties sales, the group's overall gross profit margin remained stable as compared with 2013, mainly due to the increase of both the profit margin and revenue of our property leasing and management in 2014," the company said from its Hong Kong office.

"China has transformed into a consumption-driven society. The consumption power and willingness of consumption of the public are both rapidly increasing.

"In the New Norm phase of economic development, the retail market is favoured by the government policies as well as an immense bonanza."

Dalian Wanda paid $425 million for Gold Fields House at 1 Alfred Street, Sydney, which its plans to convert to apartments - with shops on the ground floor.

"In respect of asset operation, by chiming with the development of China's finance market and drawing on international experiences, the group will actively explore "asset recycling" and asset-light model," the report says.