New York , NY (PRWEB) January 15, 2005
Inc. magazine has ranked Kara Homes 38th in its annual ÂInc. 500" list of the fastest growing privately held companies in America, the magazine announced.
Inc. cited Kara HomesÂ rapid growth, 615.8% last year, to $195.7 million in revenues during 2003. East Brunswick, NJ-based Kara Homes ranked Number 8 among private companies out of the ÂInc. 500" in revenues and the builder anticipates 2004 sales to amount to $350 million compared to $260 million in sales during 2003. Inc. Magazine reported the companyÂs total revenue growth since its first year in business at a staggering 2,463%.
ÂWe are very excited by this recognition of the hard work, professionalism and dedication of our staff in helping so many people find their dream homes,Â said Zudi Karagjozi, founder and president of Kara Homes. ÂOur company has grown rapidly since we started building in New Jersey just five years ago. Our buyers recognize the quality of construction, value and the extraordinary locations of Kara Homes communities.Â
Past Inc. 500 lists have included such well-known corporate giants as Microsoft, Oracle and the Sharper Image.
The magazine noted that home appreciation has been strong in New Jersey, helping drive Kara HomesÂ rapidly growing revenues.
Inc. magazine said, ÂThese turbocharged companies are the pulse of the real economy. They are fast growing success stories crossing a wide range of sectors from consumer products, financial services and retail to high tech hotbeds such as software, computers and electronics and telecommunications.Â
ÂReal estate brokers throughout the state tell us that Kara homes appreciate faster than most,Â Karagjozi said. ÂWhile we still are a young company resale prices in our completed communities are significantly higher than those of other builders. Also, we already have had some repeat buyers and thatÂs remarkable for a company as young as ours.Â
The ÂInc. 500" listing is the latest in a series of accolades Kate Homes has garnered. The firm has topped Builder MagazineÂs annual list of AmericaÂs fastest-growing home builders, placing first, second and seventh in 2002.2003 and 2004, respectively.
Mr. Karagjozi has received numerous industry awards from the New Jersey Builders Association and the National Association of Home Builders. He was recently was named Business Leader of the Year in separate resolutions from the New Jersey State Legislature, the Governor and the Township of Old Bridge.
Currently, Kara Homes is building and marketing a diverse portfolio of approximately 30 residential communities of single-family homes, townhomes and condominiums as well as active adult communities. Kara Homes employs approximately 275 employees and plans to expand into neighboring states soon.
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