Shoma Group is a privately owned real estate developer, so it does not report a public net worth the way a listed company would. What you can measure is its scale, and that scale is large. The firm has closed about $6 billion in completed real estate deals since 1988 and has sold more than $650 million worth of property in the past seven years alone. Its two owners, Masoud and Stephanie Shojaee, are reported to hold a combined fortune above $300 million.
Below is a clear breakdown of the money behind the name: what can be measured, what the owners are worth, and how a company this size actually earns.
Why there is no single net worth figure
Net worth is easy to state for a public company, because it files its assets and debts with regulators every quarter. Anyone can add up what it owns, subtract what it owes, and get a number. Shoma Group works differently. It is private, owned and run by a married couple in Coral Gables, Florida, and it does not have to open its books to anyone. So any exact dollar figure you see attached to the company itself is an outside estimate, not a filing, and different sources land on very different numbers.
There is a second reason the figures feel messy. Three separate things get mixed together under one search: the company, the founder Masoud Shojaee, and his wife and business partner Stephanie Shojaee. Each has its own value, and they are not the same. A single article will sometimes use all three interchangeably, which is how the same name ends up tied to numbers that range from tens of millions to several billion. A useful way to keep them straight:
- The company: measured by completed deals and the property it has developed and sold.
- Masoud Shojaee: the founder, CEO, and chairman, with his own personal wealth.
- Stephanie Shojaee: the president, with a smaller personal figure plus shared family assets.
Once you split those three apart, the picture gets much clearer. And the real, traceable numbers turn out to be more interesting than any single headline guess, because you can actually follow them through named projects and recorded sales.
The numbers that show Shoma Group’s real scale
The best gauge of a private developer is what it has actually built and sold. Here Shoma Group has a solid record. Over more than three decades, the firm has delivered more than 11,000 homes and condominiums and over one million square feet of retail and office space, adding up to roughly $6 billion in completed transactions.
That is lifetime volume, not a bank balance. It tells you the company has moved billions of dollars of property through its hands, which is the mark of a major regional developer rather than a small builder.
Recent sales tell the sharper story
More telling for right now is what Shoma has sold lately. Company leadership has pointed to more than $650 million in asset sales over the past seven years. Several of those deals are on the public record, and they show the kind of money that flows through a single project:
| Project | What it was | Reported price |
|---|---|---|
| CityPlace Doral | Mixed-use development | About $135 million |
| Sanctuary Doral | 226-unit apartments | About $103 million |
| The Flats | Rental community | About $100 million |
| Shoma Village (Hialeah) | 304-unit mixed-use | About $81 million |
| One Park Square | Mixed-use | About $96 million |
Add those up and you are already near half a billion dollars from a handful of projects. That is why a company with no published net worth can still be described, fairly, as worth hundreds of millions in equity once its debts are paid off.
Key point: A developer’s value is not cash sitting in an account. It lives in land, buildings under construction, and finished projects that get sold off one by one. Shoma’s roughly $6 billion in lifetime deals and $650 million-plus in recent sales are the real measure of its size.
How the company got this big
The scale did not come from one lucky project. It came from betting early on parts of South Florida that were still cheap. In the late 1990s and early 2000s, Shoma poured money into Doral when much of it was open land, eventually assembling close to 55 acres of mixed-use development there. Masoud Shojaee pushed local officials to incorporate Doral as its own city, and the bet paid off as the area grew into a busy suburb of Miami.
The same playbook ran in nearby Hialeah, where Shoma built homes and rental communities over more than two decades. One Doral project alone, the mixed-use One Park Square, has been described as a $900 million development. Buying into these areas before prices climbed is what let a single firm rack up billions in deals over time, and it explains why the company’s wealth is spread across dozens of finished and in-progress projects rather than one flagship building.
What Masoud and Stephanie Shojaee are worth
The people behind the company are where most of the public curiosity sits, largely because Stephanie Shojaee joined Real Housewives of Miami and put the couple’s lifestyle on national television. Reports place their combined net worth above $300 million, built almost entirely on the real estate business.
Masoud Shojaee
Masoud Shojaee founded the company in 1988 and still serves as CEO and chairman. He came to the United States from Iran in the late 1970s to study, earned engineering degrees at the University of Miami, and built Shoma into one of the larger developers in South Florida. He is often called the “King of Doral” for turning that area into a full-fledged city through his projects.
Estimates of his personal wealth vary widely, from around $100 million at the lower end up to the $300 million-plus combined figure reported for the couple. The gap comes from the same problem as before: some estimates count only what he holds personally, while others fold in shared assets and the value tied up in active projects that have not sold yet.
Real estate is not his only venture. Starting in 2003, Shojaee began buying and selling helicopters and planes as a side business, and kept at it even through the 2008 downturn. He still trades aircraft occasionally, though development remains the core of his wealth. He lives in Coral Gables, the same city that houses the company’s headquarters.
Stephanie Shojaee
Stephanie Shojaee joined Shoma as chief marketing officer in 2013 and became president in 2022. She is credited with modernizing the brand and, by the company’s account, helping lift profits sharply during her rise. Her personal net worth is reported in the range of $35 million to $40 million, separate from the larger combined family total.
The much higher $300 million number that follows her name usually refers to the couple’s shared wealth, not her own holdings. Both figures can be true at once; they simply measure different things.
Her public profile is a big reason people search for these numbers at all. A first-generation Colombian American born in Miami, she earned her real estate license in her early twenties to help her father buy a property, then climbed the ranks at Shoma. In 2025 she joined the cast of Real Housewives of Miami, showing off a private jet and designer wardrobe on camera and drawing a national audience to the couple’s lifestyle. She has also been a brand ambassador for Rolls-Royce and has built a following of more than 600,000 on Instagram, unusual visibility for a real estate executive, most of whom stay out of the spotlight.
How Shoma Group actually makes its money
Understanding the business model explains why the company’s wealth is hard to pin to one number. Shoma does not buy buildings and hold them for decades to collect rent. It builds and then sells, usually within a few years.
The pattern is consistent: buy land in an area with room to grow, develop apartments, condos, or a mixed-use project, then sell the finished asset and move the money into the next one. A company spokesperson has described selling tens of thousands of units since the 1980s while rarely holding any asset longer than two or three years.
This approach has two effects on the firm’s apparent worth. It keeps a lot of value in motion rather than parked, and it means debt is a normal part of each project. Developers borrow heavily to build, then repay the loans when the project sells. In September 2025, for example, Shoma secured $29.9 million in financing from Forman Capital for its Shoma Bay condo tower, refinancing existing debt on the project. Back in 2020, it closed $84 million in financing for the Sanctuary Doral apartments. Borrowing on that scale is routine in development and does not signal trouble on its own; it is simply how large buildings get paid for before they generate any income.
It also means the company’s net worth genuinely moves month to month. When a project sells, cash comes in and a loan gets paid off. When a new site is bought, money and debt both go out. A snapshot taken the week after a $100 million sale looks very different from one taken the week a new tower breaks ground. That is normal for the industry, and it is another reason a fixed figure would be misleading even if the company published one.
Beyond Florida
The company has also started to expand past South Florida. In 2025 it announced a partnership with Cosmo Developments, part of the UAE’s Reportage Group, to bring in a strategic partner on Shoma Bay and to launch Shoma’s first project in Dubai. The move marks the firm’s first step onto the international stage after decades focused on Miami.
What Shoma Group is building now
Current projects give the clearest read on where the company’s value sits today, because active developments are assets in progress. The headline project is Shoma Bay, a waterfront condominium tower in North Bay Village. It has been approved for 376 residences across 28 stories, anchored by a large Publix grocery store, and carries a projected valuation of about $410 million.
Other developments in the pipeline include Ponce 8, a 201-unit project in Coral Gables built under Florida’s Live Local Act, which allows larger buildings in exchange for including workforce and affordable housing. There is also a 223-unit rental community planned in Orlando, marking a step outside the company’s core Miami-Dade territory.
On the retail side, Shoma runs Shoma Bazaar, a food hall concept that opened in Doral in 2022 with more than a dozen independent vendors, and it has announced a second location in Hialeah. The food hall doubles as a community hub with live music and events, and it reflects the company’s push toward lifestyle-driven developments rather than plain apartment blocks. You can see the full slate of current work on the Shoma Group website.
Like any developer, Shoma has faced its share of legal and financial friction, including wage-related lawsuits and a foreclosure complaint tied to one project’s retail component. These are part of the normal churn of a busy development firm and sit alongside, not against, the broader record of billions in completed deals. For the couple’s own background and role at the company, their profiles on the Shoma Group leadership page fill in the detail.
Frequently asked questions
Is Shoma Group a public company?
No. Shoma Group is privately owned by Masoud and Stephanie Shojaee, so it does not file public financial reports or trade on a stock exchange. That is why there is no official net worth figure, only estimates based on its deals and property sales.
How much is Shoma Group worth?
There is no published figure. The firm has completed roughly $6 billion in real estate transactions since 1988 and sold over $650 million in property in the past seven years, which points to a company worth hundreds of millions in equity after debt.
What is Masoud Shojaee’s net worth?
Estimates range from about $100 million for his personal holdings up to a reported $300 million-plus combined with his wife. The wide range reflects how much of a developer’s wealth is tied up in active projects rather than cash.
What is Stephanie Shojaee’s net worth?
Her personal net worth is reported at roughly $35 million to $40 million. The higher $300 million figure often linked to her name refers to the couple’s shared family wealth, not her individual holdings.
Why does Shoma keep selling its buildings?
It is the company’s model. Shoma develops a project, sells the finished asset within two or three years, and reinvests the proceeds into the next build rather than holding property long term to collect rent.
Conclusion
Shoma Group has no official net worth because it is private, but its scale is not a mystery. The firm has closed about $6 billion in real estate deals, sold more than $650 million in property over seven years, and is building projects like the roughly $410 million Shoma Bay. Its owners, Masoud and Stephanie Shojaee, are reported to be worth more than $300 million combined. Treat any single dollar figure as an estimate, and read the deal numbers as the real gauge of the company’s size.
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