Boraie Development: A Company That’s Turned New Brunswick, NJ Into Really New
New Jersey’s cities have experienced both good and bad in their time, and in recent years many urban development and planning experts as well as private contractors have decided it’s time to change the lay of the land to bring in more business. One real estate investment and construction company who has taken the lead on this over the years is Boraie Development, led by Omar Boraie and his two sons Wasseem and Sam as well as his daughter Hia. The Boraies have not only been partners with city leaders and economic development initiatives, but it wasn’t long ago that former NBA star Shaquile O’Neal also took interest in their work. This work spans over 40 years of planning. For more details visit Crunchbase.
Omar Boraie was born and raised in Egypt and had planned to become a scientist. He had already gotten his bachelor’s and master’s degrees in chemistry and was now looking to get his doctorate at Rutgers University. He planned to permanently settle in New Brunswick and was buying a house when he began to take notice of a very troubled real estate market in the city. Times were tough for businesses there and many were leaving the city as buildings got older and abandoned. Some parts of the city were considered so dangerous, nobody even went outside after 4 PM. But Omar Boraie decided he could become a real estate investor and change all of that.
It was in the early 1980s that one of New Jersey’s top healthcare providers, Johnson & Johnson decided to stay in the state with their offices right near the part of town that Omar Boraie intended to resurrect. He took a 21-story building and old parking garage on Albany Street and went to work and those first until a new tower one building was complete. It wasn’t long before business owners and boutique firms started moving in and New Brunswick started seeing a renaissance. Boraie Development kept building and by the mid-2000s had put many new office spaces in the new Albany Plaza. Boraie Development has also brought more appealing housing to the area with the recent construction of the Aspire, and now Atlantic City’s Beach at South Inlet.