Having a strong family history in the business that goes back generations has been key in establishing the firm’s expertise as well as rapid growth since establishment in 2004.
The Khan family was known to have been in the business of Real Estate, Development and Agriculture according to records dating back to the 10th century. Originally from the city of Jerusalem the family migrated through Persia for trade and development opportunities then settled in the Indian subcontinent during the 18th century. Over the next 100 years, through a methodical strategy and political alliances with the nation’s royalty, the khan family forged strong relations with the community. During the British occupation of India in the 19th century, some of the most significant structures of the region developed were by Akbar Ali Khan. Akbar Ali who was born in 1823 was the oldest of 4 brothers who all worked under the Prince of the Rajistan Province. While holding the title of State Treasurer, Khan began constructing industrial as well as mixed use properties in the hearts of some of the busiest cities of the nation. With the growing wealth and political influence of the family through the mid and late 19th century, the next three generations of the family continued to acquire properties and holdings to nearly 20,000 acres and over 12,000,000.00 in net worth by the turn of the 20th century. In 1909, Akbar Ali’s great grandson, Zulfikhar Khan was born. Zulfikhar Khan along with his brother Sattar had aggressive plans to venture into construction supply industries that would enable them to control their entire means of production. With civil unrest and governmental instability, however, the family was forced to leave all behind and flee the county. With the nation dividing, the family took refuge in the neighboring Pakistan. After serving his time in the military, and 7 difficult years of struggle, Zulfikhar Khan managed to return to the construction industry through obtaining government contracts for the development of new bridges and irrigation canals throughout rural areas of the Sindh province of Pakistan.
Within 10 years, the family was able to rebuild it’s construction company, obtain 200 acres of agricultural land, and expand into other business including mining, a masonary factory, sugar cane cultivation, flour mills, construction equipment rental and trucking. While these companies thrived for the next several years, everything came to a crashing hault with the death of Zulfikhar Khan in 1966. With the death of would-be able family members during war, and with a family to young to be able to take over operations, the family holdings were sold off piece by piece.
In 1967 members of the family began moving to the U.S. with the intention of furthering education, however with more civil turmoil and uncertainty in Pakistan, the remaining members of the family migrated to the U.S. as a final place to settle.
Abrar Khan, son of Zulfikhar Khan, began acquiring residential real estate in Albany in the early 1970’s and by the 1984 had a portfolio of close to 100 units. As time went on, Abrar Khan began diving into rehabilitation projects and further diversified his portfolio to include commercial and light industrial properties. Abrar’s expansion strategy was on a 10 year hiatus during the uncertain times of the 1990’s but regained it’s momentum with the help of his sons, Faraz and Azam Khan at the turn of the 21st century.
After finishing college, having spent several years in the corporate world, current president Faraz A. Khan returned to lead the family business in 2003. Within 3 months of taking control of Khan Realty & Management, Faraz was able to implement systems and processes that increased gross revenue 42% in less than one fiscal year. In addition, he acquired his Real Estate Broker’s license through an equivalent experience waiver and created the sales portion of the business which includes both commercial and residential realtors. With 2004 being a record year for revenue and growth, the company’s president felt it was time for the next step. Coming from a solid construction family background, Faraz decided moving into construction and development was the next natural progression for the firm.
Entering the business with a vision to provide customers with excellent service, a superior product and value, Faraz exceeded the firm’s 5 year expectations in less than 6 months.