Masoud Shojaee

Masoud Shojaee (born 3 August 1959 Tehran, Iran) is an American philanthropist, entrepreneur, CEO and Chairman of the Board of Shoma Group which is a real estate development company based in Miami specializing in residential and commercial projects. In 2018 he was awarded with Future Sharks entrepreneur of the year. He married to Stephanie Shojaee in the year 2018.

Career

Since establishing Shoma in 1988, Masoud Shojaee has constructed over 65 complexes totaling more than 1 million square feet of retail and office space, more than 10,000 residential units, and a total of $5 billion in completed real estate deals. With his mixed-use developments, Shojaee has established a reputation as a visionary developer with the tenacity and aptitude to spot possibilities in underdeveloped areas and set the foundation for appealing, emerging communities. He started out in real estate by creating neighbourhoods of single-family homes.

By 1992, Shoma had completed a number of projects, secured permission to construct 1,000 houses on 220 acres at Tamiami Estates, one of South Florida's largest developments, and established itself as a major participant in the region's real estate market. Shoma Homes at Grand Lakes, which sold out for $300 million in total, and Náutica in Miramar, which sold out for $400 million and ignited a wave of new development in the area, causing the population to nearly triple over the last 20 years, further cemented Shoma's significance in the industry shortly after. Shojaee, who is widely regarded as the "King of Doral," played a significant role in the growth of the city by being one of the first to recognise and invest in it when it was still a warehouse district in the 1990s and early 2000s. He created various residential developments there, such as Doral View, Las Ramblas, and Gold Vue, as well as some of the first-rate class A office buildings in the neighbourhood, such as Shoma Centre, the previous home of the company, and One Park Square at Doral. The $900 million mixed-use building Park Square, which he built alongside Related Group in 2013, is one of his most well-known projects.

The 300,000 square foot retail centre CityPlace, the opulent apartment complexes The Manor and The Flats, and the 135 single-family residences in Oasis Park Square were all included in that joint venture. Shojaee has made approximately $300 million from the sales of a number of his Doral projects since 2015. Shoma changed its focus from mid-market single-family homes and townhomes to luxury homes and multifamily properties in 2008 after developing a sizable portfolio of residential and commercial projects in dozens of South Florida cities. Shoma did this because it saw a demand for a different kind of product in the market.

Shojaee's father had a sizable construction business in Tehran, Iran, which completed government projects. arrived in the country. He emigrated to the United States in 1978 to pursue electrical engineering studies at the University of Miami, where he earned a master's degree before entering the real estate industry and founding Shoma Group. In addition to being a successful businessman, Shojaee is also a committed philanthropist who supports organisations including World Vision, St. Jude Children's Research Hospital, and the University of Miami's School of Communication scholarship fund. Shojaee likes to spend time with his wife Stephanie and their dog Pebbles, collect good wines, explore Europe with his helicopter, and engage in humanitarian endeavours when he is not finalising multimillion dollar real estate deals.

Awards

Recognised and named King of Doral

External Links

Masoud Shojaee Website

Masoud Shojaee on Instagram

Masoud Shojaee on CrunchBase

Masoud Shojaee on Twitter

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