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Building Starter Mansions In The People's Republic Of China

Posted by: Christian Peralta Madera

28 June 2007 - 8:00am

U.S. home builder Toll Brothers, renowned for its large home suburban subdivisions, is looking to expand overseas.

"Luxury U.S. home builder Toll Brothers Inc. is looking for a partner in China to help it jump into the housing business in the world's fastest-growing economy."

"We've discovered that we are known in China without ever having been there, which came as a complete surprise, but it's there," Chief Executive Robert Toll said at the Reuters Real Estate Summit in New York. "I can envision Toll suburbia, I can envision golf course communities, I can envision high-rise."

"China is urbanizing rapidly, with some 8 million people moving to cities each year and a growing middle class pushing up property values. That has brought soaring profits to developers, although the government has recently taken steps to try to slow the torrid growth."

Full Story: Toll Brothers eyes China home market
Source: Reuters, June 27, 2007
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