The world’s largest developer of residential real estate is moving its corporate headquarters to the United States from a new location in London.
The World Bank said Thursday that it is closing its U.S. office in Brooklyn, which it had opened in 2010.
Its decision follows a review of the site’s infrastructure and the need to better meet its core business needs.
It is also the latest move in the global trend toward building homes that can be purchased and rented independently of any mortgage.
“As we look to the future, we recognize that building more and more of our homes with properties that we can sell on our own, rather than with a mortgage or other financing, is a key part of our future success,” said David C. Shoup, the World Bank’s chief executive officer.
While the new headquarters is in New York, the bank is planning to continue to invest in New Jersey, Pennsylvania and Virginia, as well as the Gulf Coast.
In addition, it plans to hire another 20 people to work in the New York office.
The company said it expects to hire about 30 people in the U.K. and Europe.