You’re reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.
Miami-based real estate firm Shoma Group, led by CEO and Chairman Masoud Shojaee and President Stephanie Shojaee, has announced a milestone partnership with Cosmo Developments, powered by Reportage Group—one of the UAE’s fastest-growing real estate companies. The collaboration marks Shoma Group’s arrival on the global stage, bridging its three-decade legacy in South Florida with ambitious expansion into the Middle East.
For 37 years, Shoma Group has shaped the skyline of South Florida—delivering over 11,000 homes, luxury condominiums, and mixed-use destinations, from City Place Doral and Shoma Village to its current flagship, Shoma Bay. Now, the company’s partnership with Cosmo is a defining moment: a union of Miami’s most trusted developer with one of the UAE’s most visionary real estate groups.
Shoma Village. Image courtesy Shoma Group
Shoma at the Center of a Global Vision
“Shoma has always been about building beyond walls—we create communities that transform entire neighborhoods,” said Masoud Shojaee. “Today, as we bring Miami and Dubai together through this partnership, we’re not just exporting real estate. We’re exporting a vision of what the future of lifestyle-driven development can be.”
Stephanie Shojaee added: “This is a historic chapter for Shoma. Shoma Bay already redefines Miami living, and now, through our collaboration with Cosmo, we’re extending that level of innovation, luxury, and detail to an international stage. The UAE is the natural next step for Shoma’s future.”
Shoma Bay. Image courtesy Shoma Group
Shoma Bay: A Flagship of Excellence
With Shoma Bay under active development, the project has grown even more ambitious. Originally planned as a 333-residence waterfront condominium, the development has now been expanded to 376 residences across 28 stories — an approval from the City of North Bay Village that reflects confidence in both Shoma Group’s vision and the strength of market demand.
This expansion increases the project’s sell-out potential, elevating its status as one of South Florida’s most transformative luxury destinations. Anchored by a 35,000-square-foot Publix, Michelin-starred dining, curated retail, and a rooftop lounge with sweeping views of Biscayne Bay, Shoma Bay embodies the essence of Miami’s live, work, play lifestyle.
Investor enthusiasm has been overwhelming, with the project already signaling a potential $410 million USD (AED 1.5 billion) valuation — a resounding endorsement of Shoma Group’s track record and the growing desirability of North Bay Village.
Ponce 8. Image courtesy Shoma Group
From Miami to Dubai: A Natural Evolution
The partnership between Shoma Group and Cosmo Developments is based on multiple projects In the USA and UAE. Phase One centers on Shoma Bay, where Cosmo joins as a strategic partner, expanding the project’s international reach and investment strength. Phase Two, currently in its final stages of agreement, marks the launch of Shoma Group’s first development in the UAE a Dubai-based project that will bring the Shoma Bay lifestyle to the Middle East, well underway.
The UAE has emerged as the next frontier for Shoma Group. Cosmo Developments, led by Andrea Nucera, recently set global records with its BRABUS Island project in Abu Dhabi, achieving more than $1.1 billion USD (AED 4.2 billion) in sales within 48 hours. Together, Shoma and Cosmo are poised to channel this momentum into a new class of developments that marry Miami vibrancy with Middle Eastern innovation.
“Miami is where Shoma built its legacy. The UAE is where we will expand it,” said Stephanie Shojaee. “This partnership is not just about one project—it’s about setting the foundation for Shoma’s international growth.”
Shoma Bazaar. Image courtesy Shoma Group
Looking Ahead
As Shoma Bay continues to rise, the collaboration between Shoma Group and Cosmo Developments is laying the groundwork for future projects across Dubai and beyond. Both companies envision a new standard of luxury living—one where architecture, design, and community seamlessly intersect.
With its proven history of delivering over $6 billion USD (AED 22 billion) in real estate transactions, Shoma Group is entering a new era—one that places the Miami-based firm at the center of a global conversation about luxury, innovation, and lifestyle.
