Siras Development is a New York based integrated real estate group building commercial, hospitality and residential developments of exceptional quality, from partners Ashwin Verma and Saif Sumaida. The company creates developments that use pioneering architecture and design to redefine neighborhoods from Tribeca and Soho to the West Chelsea Highline and Hudson Yards.
With a development and construction management portfolio of more than 30 properties across New York City, including the critically acclaimed Soori High Line, Hotel Americano and the new Hudson Rise Tower, Siras Development is looking to redefine the architectural landscape of New York.
Oriel Development is a Singapore-based luxury real estate development company that is profoundly reinterpreting the global concept of luxury development. Backed by the world-renowned architect and developer Soo K. Chan, Oriel Development projects capture the imagination and have become synonymous with a bespoke, luxury experience. With projects across the world from Singapore and Bali to New York and Milan, Oriel Development continues to bring high design to global cities.
The founding partners have diverse backgrounds in design, real estate investment, development and construction management, and have designed or managed the construction of nearly one million square feet of luxury residential and hospitality projects in New York City, ranging from ground up buildings to conversions and restorations. Working with leaders in their fields, spanning from architects, designers, hotel companies, operating partners, brands and investors, the principals have designed projects in over 30 cities, across 5 continents.
As a result of working on projects and with partners throughout the world, the team brings to every development a unique, global perspective. The partners' works have been featured in the world’s most prestigious publications, including The New York Times, The Wall Street Journal, WSJ. Magazine, Financial Times, How to Spend It, Architectural Record, Architectural Review and Wallpaper.
Mr. Sumaida, educated as an architect, has over twenty years of architecture, construction and real estate experience in New York City. Combining an imaginative vision with a strong track record of executing highly-lauded development projects, Mr. Sumaida functions as a rare mix of creative partner and construction manager. He is engaged in all aspects of the development process from conception to implementation.
Before starting Siras, as the Founder and President of Foundations Group, a renowned building and construction management firm, Mr. Sumaida was responsible for the construction of over one million square feet of luxury condominium developments, boutique hotels, office buildings, high-end interiors and significant retail properties in Manhattan.
The firm, founded in 1993, has been written up in innumerable publications, including the New York Times and Harper’s Bazaar, and had its work exhibited in the Cooper-Hewitt National Design Museum, Museum of The City of New York, and MoMA, among other museums and galleries. Mr. Sumaida received a Bachelor of Architecture from The Cooper Union.
Mr. Verma has over fifteen years of development experience in New York and abroad. Scrupulous, inventive and with considerable local and international knowledge, he has guided projects throughout the development process – from spotting investment opportunities and structuring deals to concept development and product marketing. His ability to situate the New York market within larger global trends makes him ideally placed to position and market Siras’s assets.
Prior to founding Siras, Mr. Verma has sourced, financed, developed and marketed over $250 million dollars of commercial and residential real estate. When entering the real estate market in New York and the emerging markets of India and Dubai, his foresight and keen, unconventional eye enabled him to seize opportunities years before his peers.
His resume includes new hotel construction and luxury condominium development, as well as Class A commercial office and securing land banks for future use. Mr. Verma holds an MBA in Finance from the Wharton School of Business and a BA in Psychology and Economics from Colgate University.
Soo K. Chan is the founder and managing principal of Oriel, a Singapore-based development company specializing in bespoke hospitality and luxury residential projects. Mr. Chan is also the founding principal of SCDA, a design studio seamlessly integrating architecture, interiors, landscape and product design to create holistic spatial experiences in over 40 cities.
Oriel is a Singapore-based development company specializing in bespoke hospitality and luxury residential projects, in conjunction with SCDA. Founder and Managing Principal Soo Chan brings a holistic approach to each project, encompassing design, development, construction, deal structuring and marketing. To date, Oriel has developed 940,000 square feet across Asia, North America and Europe.
Soo Chan’s award-winning design consultancy SCDA has designed over USD $21 billion worth of real estate covering 125 million square feet, from high-density urban developments to culturally and environmentally-significant destinations in five continents. Oriel’s development and management flagship brands are Soori New York, Soori Bali, and Soori Niseko. Future expansion plans include key gateway cities to London, Paris, Milan.
