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."
Read the full story: Toll Brothers eyes China home market
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