Privately-held Far East Organization, founded by Singaporean billionaire Ng Teng Fong, will build the 250-strong house community  on an infill estate in St Helena, its first property development in Australia.

The project in the rolling hills near the the Kinglake range will also be one of the first master-planned communities undertaken by an offshore developer in Australia.

Most foreign development activity is concentrated on apartments in central Sydney or Melbourne.

FEO has no affiliation with another well-known Singapore-listed developer, Far East Consortium, the group behind Melbourne's vast Upper East Side project.

Ai Lian Fang, FEO's chairman, said Mr Fong bought the land in St Helena near Diamond Creek on a visit to Australia 30 years ago.

Extra land was purchased in 2013 to take the total holding to 19 hectares.

FEO has a significant presence in Singapore where one in six homes are built by the company.

"Now we're looking beyond our south-east Asia footprint. We have been very active in Australia in the past two years," Mrs Fang said. "All in all we have committed $A1.3 billion."

FEO has three listed Singaporean subsidiaries that focus on hotels and hospitality.

One of those, Far East Orchard, has extensive holdings in Australian hotels through a 50/50 joint venture with Toga Group.

Toga Far East Hotels manages three Adina Apartment Hotels (Brisbane, Adelaide and Sydney), The Vibe Hotel (Sydney), Travelodge (Darwin), and three Rendezvous Hotels (one in Melbourne, two in Perth).

Internationally the hospitality group manages more than 65 hotels.

The joint venture has also developed a 121-apartment complex called Harbourfront Balmain.

Nearly 80 per cent of apartments in the project had sold since its launch in November last year, the group's chief operating officer, Lay See Shaw, said.

FEO has built up a large portfolio of prime commercial buildings in Sydney including the Clocktower Square Complex, 50 and 54-58 Park Street, 227 Elizabeth Street and 570 George Street (Ausgrid Building).

"We are looking at other investments in Sydney, including residential developments," executive director Augustine Tang said.

FEO has also developed a retail complex, the Waterfront Brand Outlet, in Perth, he said.

St Helena Woods will have at least 15 different DKO Architecture-designed homes for potential buyers to choose from set among trees on the undulating property.

The community will also include gym facilities, a tennis court and swimming pool.

About 25 per cent of the site will be reserved for parkland, Mr Tang said.