Is it ever going to stop? She started in the company's sales division before becoming the Chief Marketing Officer and, most recently, the president. They (Shojaee and Maria) founded Shoma Group together but split up in 2015. We get a reputation in South Florida for being flashy. Developer Masoud Shojaee will get another go at his breach-of-contract claims against Miami real estate powerhouse Ugo Colombo in their dispute over a failed Coral Gables joint venture. He has an enormous sense of urgency with everything he does, and that is why he gets so much done, Patterson said. The world of residential real estate has many different players, including appraisers, home inspectors, and government agencies, as well as prospective buyers and sellers. Occasionally, he still buys and sells aeroplanes, but his main focus is on his real estate empire. Working with the government, Shojaee used his investments in Doral and the subsequent investments his developments inspired to convince local officials to denote the area as its own official city. I love creating things. Abreu had partnered with the Somoza family of Nicaragua to develop hundreds of lots at Sunset Harbour, at Sunset Drive and 127th Avenue, and was ready to cash out. He reentered the aviation business two years ago, buying and selling more planes. For Shomas single-family developments, Shojaee said the company handles 80 percent of the design, 100 percent of the construction and 90 percent of sales. But what else do you know about Shojaee? Four months later, the Iranian revolution began. Copyright 2023 IBTimes LLC. The Miami metro area government greenlighted the development of more than 17,000 apartments and 8,300 single-family homes in 2021 alone, projects that are expected to attract even more new residents down to sunny Miami. The relapsed NS group had 80 cases (56.3%) and the non-relapsed NS group had 62 cases (43.7%). And while there is no exact figure for how much the company is worth, it is in the billions of dollars, with more than $5 billion in completed real estate transactions since it was founded. His first project, when he was 24, was a 48-home development in Kendall, called Kendall Best 2, in a joint venture with an experienced partner, Ernestino Abreu, principal of a family business, A & F Developer. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. For those unaware, "Shoma" is a play on Masoud Shojaee's full name as the firm's name combines the first three letters of his last name (sho) with the first two letters of his first name (ma). Who are Masoud Shojaee's children? That was one of the most successful projects I did, he said. Today it is one of South Florida's preeminent residential builders. You are already subscribed to our newsletter! Masoud Shojaee and his wife Maria, both 46 years old, incorporated Shoma Development Corporation in 1988. While friends note his generous character and sartorial sensibility, theyre just as apt to muse about his determination and focus in business. The group regularly gets together socially for dinner, each taking turns hosting. In February 2017, Masoud listed his Moroccan-style estate in Coral Gables for $15.9 million. Masoud Shojaee and his ex, Maria Lamas, finalized their divorce in 2018. Founding Shoma. I dont know if Im really willing to share it.. He was likely meant to succeed his father, but trouble started brewing in the 1970s due to strikes and growing public unrest. 5. Official Fandom Name: NOANA ("You & I" in Korean) Stage Name: Noa Birth Name: Kazama Noa () Birthday: March 13, 2000 Zodiac Sign: Pisces Chinese Zodiac Sign: Dragon Nationality: Japanese [] He went in the right direction.. Today, South Florida is a thriving market and Miami has transformed into an exciting city with a banking center, an industrial hub, Cruise Lines, and a multitude of great things to do and experience, says Shojaee. He has been developing many properties, from high-rise apartment condos to commercial buildings. And how much does he earn? After two or three years of working independently, she joined Shoma in the sales division, working under a different boss, she said. Andrew Hall, Shojaees friend and managing partner at Hall, Lamb, Hall & Leto, who represents him in the Collection Residences and Collection suits, said litigation is par for the course. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Miami luxury real estate agent pleads guilty in PPP fraud case, Mitsubishi UFJ to sell SF office building at expected 80% discount, East Hampton firm buys Water Mill shopping center, Capstone Equities pounces on another distressed Midtown hotel, Trusts benefitting Masoud Shojaees daughters sue to access his companys financial records. According to federal campaign-finance reports, Masoud Shojaee donated $10,000 to the state Republican Party in 2004. Further, the successful investor is a wine aficionado and an aviation enthusiast having bought his first private plane at the age of 38. 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. 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. . Lucky for him, the market was just ripe; the US was going through a saving and loans crisis, making it a great time to acquire properties. After the first two successful projects, Shojaee struck out on his own, founding the real estate company Shoma Development in 1988. Masoud Shojaee and his wife Maria, both 46 years old, incorporated Shoma Development Corporation in 1988. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This Website Is Dedicated To Carlo Acutis, SUBMIT A PRAYER REQUEST TODAY Don't IGNORE, LEARN TO KEEP YOUR PLANS SECRET ~ Apostle Jushua Selman (Read Full Message), How To Pray The Little Office Of The Blessed Virgin Mary. I love to be in my office. The billionaire, who is the CEO of Shoma Group real estate, has been praised by many for being a romantic gentleman. Beyond the boardroom, Stephanie has become well-known across the world for her signature high-end style and close relationships with some of the fashion communitys most covetable fashion houses, like Dior and Hermes. On top of those, theres the developers lengthy divorce that began when his wife, Maria Shojaee, filed in April 2015 after 29 years of marriage. The Coral Gables-based Shoma Group, led by Masoud and Stephanie Shojaee, have sold their recently completed Sanctuary at Doral multifamily apartment building for $102.5 million to the Denver-based Avanti Group. When Masoud's fashion-forward wife, Stephanie, joined the company in 2013, Shoma Group's bold approaches were only taken to the next level, as Stephanie's incredible marketing mind and forward-thinking strategies helped boost the company's annual profits by 30 percent. Shojaee is also planning to build 180 apartments and 50,000 square feet of retail space at 1515 San Remo Avenue, across from the Shops at Sunset Place. While Shoma Group itself is a household name throughout the global development community, Masouds preference for privacy has largely kept the development mogul out of the spotlight. Shojaee lives in Coral Gables, in Miami-Dade County, Florida. Shoma Group | 1,921 followers on LinkedIn. Shojaees aptitude for building is in his blood. Theres also a suit against Colombos exotic-car dealership, the Collection, related to a $413,108 contract to purchase a Ferrari. Theres been no communication for the last maybe six years. The Coral Gables resident told The Real Deal that his goal is to bring new design concepts to the region like choosing a minimalistic style rather than Mediterranean architecture at the nearly completed Oasis at Park Square in Doral, where each unit features a private rooftop with a Jacuzzi, barbecue area, bathroom and covered terrace. Check your inbox to be the first to know the hottest news. When the Iranian revolution started in 1978, Shojaee left his home country, travelling to the US to attend college. However, Mr. Shojaee doesnt rest on past success, he continues to develop and refine his approach based on his depth of understanding of the markets and his desire to create projects that inspire excitement and new ways to improve the environments we live in. Who is Masoud Shoajee? 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. As much as he likes fancy things, he doesnt define himself by it, said Jay Parker, CEO of the Florida brokerage at Douglas Elliman. Shattering glass ceilings since she entered Shoma Group as Chief Marketing Officer (CMO) in 2013, Stephanie Shojaee's promotion to president of the multi-billion-dollar Miami development company adds some much-needed representation for women and the Latin community in top-level executive leadership positions. The 226-unit multifamily property is located at 9400 NW 41st St. Read More. A Miami-Dade County Circuit Court judge overturned a $10 million jury verdict that Shoma Group CEO Masoud Shojaee's company won against a company led by condo developer Ugo Colombo of CMC Group . In 2021, Shoma Group sold Doral apartments for $102.5 million. Lugz gifted his wife-to-be a Mercedes Benz AMG, which costs between KSh 1.5 to KSh 2.5 million. Since getting his start in the industry, Shojaee has developed a unique visionary insight into how to identify as well as invest in up-and-coming parts of the city typically overlooked by other developers. Today his firm, Shoma Group, develops apartment buildings, townhomes, office buildings and retail space in addition to the 10,000 single-family homes it has built since he founded the company in 1988. They both work with their father in his real estate company. Masoud builds high quality developments in the diverse and growing South Florida. Join the New Times community and help support You are already subscribed to our newsletter! Most recently, the firm partnered with the Related Group on CityPlace Doral, a mixed-use project. Shojaee on being called a gold digger, and Masouds daughters cutting ties with him. Masoud builds high quality developments in the diverse and growing South Florida. Become a member to support the independent voice of South Florida So in 1988, at 27, he started Shoma Development with 10 employees. Shojaee bought Abreus share in the partnership for a few million dollars a number he doesnt recall exactly taking on more than 200 lots to build single-family homes. In 2021, the largest age group in Seoul, South Korea's capital, was the age group between 25 and 29, with around . In fact, when Shojaee first started investing in Doral, it was not even an official city. Parents, hometown, and background, Who is Fabio Jackson? Shojaee is currently married to Stephanie Mejia Shojaee. Leading the pack of Miamis plethora of development firms is Shoma Group, a renowned multi-billion-dollar real estate company thats been led into international recognition by the husband-wife team of Masoud and Stephanie Shojaee. On top of that, when his father retired, he sent more money, leaving him with a tidy sum that he could invest. Thirty years of history, a strong track record and over 5 Billion dollars in real estate transactions are a good indication of a solid approach to developing residential, commercial and mixed use projects and communities. He is the first baseman and designated hitter for the Detroit Tigers of the Major League Baseball. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Miami luxury real estate agent pleads guilty in PPP fraud case, Grant Cardone faces tenant uproar over rain damage at Las Olas apartment building, Wells Fargo likely to sell 550 California Street at deep discount, Eli Karps Flatbush investors want their money back. Stephanie is also one of the only female ambassadors for Rolls-Royce in the United States, a role she takes with pride and shares with her hundreds of thousands of followers alongside snaps from front-row at runway shows and a sneak peek at her enviable closet on her popular Instagram account. Known for his keen eye for potential, Masoud gained recognition throughout the 90s and early 2000s for his prescient developments in the Doral and Hialeah areas, helping boost the regions into functional communities and cities and gaining Masoud the moniker . Shoma had purchased the 7 . He likes finer things in life, but he is respectful and disciplined.. Then in 1992, he bid $6 million in a government auction of 700 lots and negotiated a deal to get 300 more, developing 1,000 single-family homes on 220 acres, called Tamiami 4 and Tamiami 5. The key is understanding the different market sectors and building the product that best aligns with their individual wants and needs, always giving them something fun and exciting to experience.. You receive a lot of money when you are 18 years old, that is a recipe for disaster: You are not competent to do much .He took off and was terrifically successful. Masoud Shojaee and his ex, Maria Lamas, finalized their divorce in 2018. Parker of Douglas Elliman, which is now handling sales at Eleven on Lenox, calls Shojaee a visionary.. Ultimately, improving the experience with every new project. Tuko.co.ke shared an interesting article about Miguel Cabrera. People are coming from the Middle East, Japan, and so many different countries around the globe looking for the quintessential Miami lifestyle.. To start with, he partnered with another real development company, A&F Developer, their first project being a 48-home property. 5 Under Armour Apparel items every man needs to add to their closet this Winter, Men are putting pearls on their penises to have better sex, Award winning Afro-tech DJ Rabs Vhafuwi returns with yet another enchanting music. How many children does Masoud Shojaee have? Shojaee even got into the aviation business in 2003, buying and selling planes and helicopters. Where did Masoud Shojaee go to college? As Miamis property market continues its red-hot upward trajectory, expect the Shojaees and Shoma Group seamless team to be the forces behind some of the citys most talked-about up-and-coming projects. Reason for his departure, Who is Yeonmi Park's husband? Businesses shut down. Source: Instagram Masoud romantic gentleman. Developed and managed by industry veteran Masoud Shojaee, CEO of Shoma Group - who over the past 31 years has developed more than 10,000 homes and condominiums, and completed over $5 billion in real estate transactions - Shoma Bazaar at Sanctuary Doral is the firm's first food hall concept and represents the first of many future Shoma . The next deal was even larger. Check your inbox to be the first to know the hottest news. 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. Now, 20 years later, Shojaee's Shoma Village project is his most recent effort to elevate the city, re-invigorate its economy, and bring upscale rental opportunities to the area in order to entice and retain young professionals. She is an executive in the real estate industry and is currently the president of Shoma Group. Risk factor for relapse in childhood . local news and culture. Coral Gables-based Shoma, led by Masoud Shojaee, completed the six-story building in November and fully leased it in the following eight months, according to the release. Not much is known about his life growing up, as he did not attract much public interest until years later when he became successful in the US. The couple were married in 1984 and started Shoma Group together. The real estate mogul has two daughters, Anelise Shojaee (31 years) and Lilibet Shojaee (28 years). Shoma Homes at Grand Lakes, which sold out for $300 million in total, and Nutica 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, 46, is a native of Iran, where he was born. Masoud Shojaee and his team at Shoma Group also manage all of the buildings they develop. There is not much information on Masoud Shojaee and Stephanie Mejias wedding. Her success certainly didnt come easily; as the child of Colombian immigrants, Stephanie had to fight tooth and nail against the odds to make a name for herself in business, a tenacity and work ethic she continues to maintain to this day.