Omar Boraie is a renowned real estate developer. Notably, there is no building in New Brunswick that bears his name. He does not have a Boraie Tower. However, he is the owner of a successful real estate company, Boraie Development. Through the company, Omar was able to transform New Brunswick. In the 1970s, he visited the city and saw an opportunity. During this period, he was pursuing his doctorate degree in chemistry at the esteemed Rutgers University.
As he was purchasing a home in the neighborhoods, he learnt that the city was once a commercial hub. To this end, he devised strategies of making the city thrive anew. Many people did not believe that his plan would work considering that the region had a bad reputation. Omar asserts that people feared to walk on the streets in the evening. Real estate professionals viewed his idea with skepticism. However, they were wrong. His plan worked perfectly well. At the time, most of the buildings were vacant and dilapidated. He bought all the 21 housed one after the other. Click here to know more.
Through Boraie Development, Omar was able to develop various properties in the region. He started by developing Albany Street Plaza Tower I and II. Tower one had large rooms and office spaces. Tower two was constructed next to tower one. This project attracted many people to the city. With the passage of time, the populace of the region started to increase. Omar saw another opportunity of building residential units to house the growing population. To this end, he developed One Spring Street. The 25-story building has 121 residential units, retail space of 10,000 square feet, 40,000 square feet of office space, outdoor space, and a spacious parking garage. It is after the successful completion of this project that people started to believe in his vision of revitalizing the city. The company has gone on to develop other projects in Atlantic City. They include The Aspire, a luxury residential property, The Estates at Waverly Place, and The Beach at South Inlet.
Boraie Development offers different services in the real estate market. The team focuses on real estate sales, property management and real estate development. Through his transformative leadership, Omar has been able to attract many investors to the city besides enhancing employment in the region. His three children are vice presidents of Boraie Development. They have outstanding leadership skills.
Over the years, Omar has engaged in numerous charitable initiatives. Recently, he was named the Omar Boraie Chair in Genomic Science at Rutgers University. He has been a staunch supporter of any initiative geared towards cancer research. His interest in funding cancer-related causes started when he met young cancer patients at the Bristol-Myers Squibb Children’s Hospital. After lengthy discussions with the leadership of Rutgers Cancer Institute, he was the need to fund their efforts. To this end, he donated $1.5 million towards the chair, which was matched by an anonymous donor. The institution established 18 chairs with each contributing $1.5 million. The inaugural chair holder, Sheridar Ganesan, posited that they would use the resources to enhance cancer research using genomic science. Boraie posits that his vision is to ensure that New Brunswick is regarded as a center of research and development.