"Location, location, location" is a real estate agent's mantra. For Oceanwide Holdings Group, a major real estate developer in China, it's part of a strategic guideline for their investments in the US.

"Our investment philosophy is prime location and major cities," said Li Chen, CFO of Oceanwide Center LLC, owned by Oceanwide Holdings Group. "Oceanwide has invested in five projects in the US, trying to diversify investments, expanding our image."

The developer has put more than $7.5 billion in those projects since 2013.

"Why are we going overseas? Because we believe in the US economy; we also believe in the most mature investment environment despite the huge tax and other issues and barriers," said Chen.

Founded in 1989, Oceanwide started trading on the Shenzhen Stock Exchange in 1994 and has assets worth $10.7 billion. It engages in real estate, finance, energy, culture and media, and strategic investment businesses.

Oceanwide is a controlling shareholder of three public trading companies in China, two in the mainland and one in Hong Kong. The main investment is in financial, real estate, media and energy sectors.

"We actually set up operations in the US as early as 2000, watching the market and choosing the right time to enter the market," said Chen. "After the financial crisis in 2007 and 2008, the US economy entered into a sustainable and developing stage, we bought the first project in Los Angeles - Oceanwide Plaza - a mixed-use project including more than 500 condos and 200,000 square feet of retail space."

At that time, the Chinese government was trying to slow the overheated domestic housing market, leaving fewer opportunities for Chinese developers, she said. But at the same time the government encouraged private capital to go out of the country. "They (the Chinese government) have a 'going-out' policy, relaxing a lot of restrictions," she said.

The domestic environment led to Oceanwide's globalization strategy.

The company's first US project was in downtown Los Angeles, and the second investment was in Sonoma County, California - a 360-acre project with a winery, a hotel and single family homes.

The third investment was Oceanwide Center, acquired in 2015. It includes two towers at First and Mission streets in San Francisco. The First Street Tower will be 850 feet tall with more than 1 million square feet of office space, and more than 100 luxury condominiums. The Mission Street Tower will be 605 feet with more than 155 luxury condominiums and a five-star luxury hotel. When completed, the First Street Tower is expected to be the second-tallest building in San Francisco.

Last December, Oceanwide invested in Hawaii for another large-scale, mixed-use project.

liazhu@chinadailyusa.com