Newark, NJ undertook some big construction projects in the downtown area of the city and saw quality new residential units with small retail spaces spring up during 2015 and 2016. The ingenuity behind the rich interior designs and strong architectural external appearances on these units came from Boraie Development, a commercial and residential real estate development contractor that’s served the New York City and Newark areas for over 30 years. Boraie Development has invested millions in New Jersey’s cities to improve the appearance and area’s quality of life for locals, and to attract new businesses into the state. The company has even consulted with local celebrities, including former NBA star Shaquile O’Neal about what they plan to see take place across Newark.
The Boraie Development Group is a family company headed by Chairman Omar Boraie, and also has executive tasks managed by his sons Wasseem Boraie and Omar Boraie who are company vice presidents. Omar’s daughter Hiam is also a high-level executive at this company. Omar Boraie originally moved to the US from Egypt to pursue interests in graduate school after completing his undergraduate degree in chemistry. He had originally considered going into the restaurant business, but he began to take an interest in investing and rebuilding major real estate, so he started up his development company on a small scale.
According to Rutgers, at the time that the Boraie Development began in the 1970s, much of New Brunswick metro area was dilapidated and most people did not even go on the streets by evening. Omar Boraie decided to take an old building in the rough area of the city and have it rebuilt, vowing to also take on nearby buildings stating that he could improve the city’s fortunes. Most people thought it couldn’t be done and that he was wasting an investment, but in a few years he had built the tower that the Boraie Development headquarters is now hosted in, and soon he had transformed another nearby building into a nice parking garage and a large commercial space unit. Some of his most recent buildings include The Aspire, one of Newark’s finest residential lots, and a condominium on Spring Street.
Omar Boraie and his family are also active in the local charity circles and have supported causes from local arts to various research projects. They recently gave a large donation to the genomics department of Rutgers University for furthering cancer research. You can find more about the Boraie’s projects and philanthropy through their LinkedIn page and Facebook.
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