Chinese developers have been purchasing big real estate projects in the world’s most important cities in the past year. They will continue the shopping spree this year, with other Chinese groups to follow the trend soon, according to real estate analysts.

Greenland Holding Group Co., a state-owned developer that built one of China’s tallest towers, is putting £1.2 billion ($2 billion) into two London residential projects.

Greenland’s investment marks the beginning of a new wave of shopping spree. Last year, it branched out into the U.S. and Australia. It is also looking at places like Canada, France and Singapore other than London, where prominent Chinese developers including Dalian Wanda Group and Chinese institutions such as Ping An Insurance have already invested.

Greg Penn, managing director of capital markets at CBRE Asia, said other Chinese investors, such as high net-worth individuals, pension funds and insurance companies, will probably venture overseas as their developer peers continue to be active abroad. “Other Chinese groups will follow because they will see that their peers in the industry have had success investing into the overseas market. That will give them comfort and that will induce other sources of Chinese capital to invest overseas,” he said.

Penn said Chinese investors will be more active in Europe and the Pacific, especially Australia. He said they may even enter Brazil and India because of the potential growth of those markets.

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