Boraie Development is a firm that is appreciated for its role in the growth of New Brunswick’s real estate sector. The enterprise is owned by a 72 years old business mogul, who is known as Omar Boraie. He serves as the CEO of the construction firm and has led in developing outstanding buildings in downtown New Brunswick. Omar studied in Europe, and this enabled him to get excellent real estate ideas that he used in transforming the city.
Omar Boraie made his first real estate investment in 1976 when New Brunswick was in a terrible state. The city was always deserted by about 4 P.M. The businessman started by redeveloping an old block that had 21 vacated buildings. Most people did not believe in Boraie’s investment, and they thought that he was crazy. His first project was a success, and he later started the construction of the Albany Street Plaza Tower One, which is a commercial building that has over 250,000 square feet of office space. Omar launched the building and began developing Albany Street Plaza Tower Two in 2007.
The top-notch office space that had been constructed by Boraie Development encouraged many companies to establish offices in the city. This led to a high demand for residential buildings, and therefore, the company built the One Spring Street Condominium Building. The structure has 121 luxurious apartments that have spacious balconies and beautiful windows. It also comprises of a parking garage, offices, and retail shops. The company sold two bedroom units between $400,000 and $500,000. The apartments encouraged middle-income earners to relocate to downtown New Brunswick. People started being comfortable with acquiring homes and living in the area.
Boraie Development currently buys land and buildings that have not been utilized well, and it transforms them into modern apartments and office spaces. The real estate firm also constructed The Aspire, which is a state-of-the-art structure that has modern apartments, entertainments joints, and restaurants. The company is still seeking opportunities to establish more buildings in New Brunswick. It has also started investing in Atlanta City and Newark.
Omar’s son, Wasseem Boraie, currently acts as the VP of the real estate development enterprise. His remarkable innovation has facilitated the growth of the firm. He has led Boraie Development in acquiring demolition sites and transforming them into outstanding offices spaces and homes. The company bought an old building that was near Richard Stockon College and redeveloped it into a students’ hostel that can accommodate 400 people. You can search him on Yahoo.