Dalian Wanda came under pressure by the Chinese government to crimp its overseas investments.
Late last year Wanda begun marketing the apartments in the development.
They described the Sydney building as Australia's most prestigious residential development (below).
The flagship $1 billion project was officially launched at the Museum of Contemporary Art in April.
The 57 storey tower will comprise 184 apartments and a 179 room hotel.
"The Circular Quay site remains under the management of Wanda, as the transfer process continues," a Yuhu spokesman told Fairfax Media.
Police say the remains of the building, which was undergoing demolition, has sustained significant damage.
"Officers attached to Sydney City Local Area Command will investigate the circumstances surrounding the blaze. It is not known if there are any suspicious circumstances; inquiries are continuing," police reports say.
