Taking the philosophy it refined while becoming one of China's top real estate developers and property managers has allowed Xinyuan Real Estate Co Ltd to participate in the US market with confidence.

"We strive to provide real estate products and services to middle-class consumers," company CFO George Liu said in an interview. "The regulations and the customers may be different in both countries, but the general philosophy is the same. We apply what we learned in China to both countries and have been successful."

Founded in 1997 and based in Beijing, Xinyuan was one of the first Chinese developers to enter the US market and over the past few years has been active in California, Nevada and New York.

It had an initial public offering on the New York Stock Exchange in 2007 with institutional private-equity backers like Blue Ridge Capital and Sam Zell's Equity International.

In China, the company had 21 active development projects by the end of 2015 in key markets like Beijing and Shanghai, and in several second-tier cities like Jinan, Suzhou, Xi'an and Zhengzhou.

In the US, Xinyuan acquired and sold a 15 condominium-unit development in Irvine, California, a planned city of about 250,000 in the state's affluent Orange County. Xinyuan sold out a land portfolio in Reno, Nevada.

In the Williamsburg section of Brooklyn, New York, Liu said Xinyuan developed a residential building called the Oosten development, which will occupy a full block.

It has 216 units and the company had sold more than 60 percent of the units by the end of 2015 according to Liu.

Xinyuan acquired the land for the Oosten project in 2012 for $54.2 million. Williamsburg is one of the most popular neighborhoods in New York for singles and new families because of its expanding high-housing stock and close proximity to Manhattan Through its US development arm, XIN Development Group International Inc, the purchase of the Oosten site represented XIN's first major US residential development project.

Like many Chinese real estate firms, Xinyuan is comfortable investing in the New York area. "We will continue to look for other opportunities in New York and possibly New England too," said Liu.

Liu said Xinyuan has established a New York office with about 15 employees.

In January, Xinyuan acquired a parcel of land on 10th Avenue between 44th and 45th streets for $57.5 million for its first Manhattan project. The company expects to begin construction on in the second half of this year.

"We are looking at building one or two-bedroom units," said Liu.

"Midtown West in Manhattan has experienced a surge in construction and housing demand in recent years, creating compelling economics for the residential condo units and retail space we plan to build at this location.

"Given the location of this project, we expect it will be appealing to both local and foreign buyers and this deal gives us the flexibility to consider additional projects in Manhattan and other locations," Xinyuan Chairman Yong Zhang said in a statement when the purchase was announced in January.

paulwelitzkin@chinadailyusa.com