Forty years ago Egyptian immigrant Omar Boraie relocated to New Jersey where today he is recognized as one of the most significant real estate entrepreneurs and philanthropists.
After earning his undergraduate degree in chemistry in Egypt, Boraie came to attend Rutgers University in New Brunswick to work on an advanced degree in chemistry. While going through the process of purchasing a home in the area, he uncovered his aptitude and skill for real estate and immediately went into the business.
The now 72-year old president of Boraie Development initially began to purchase abandoned structures and parcels along Albany Street after Johnson & Johnson pledged to continue its residence in New Brunswick.
In a blog posted by Central Jersey Working Moms, Boraie Development completed Albany Street Plaza Tower One, an 8-story low rise building followed by an additional 8-story low rise building known as Albany Street Plaza Tower Two. For more details visit Central Jersey Working Moms to know more.
By the mid-2000’s, Boraie Development had completed work on its first major residential project, One Spring Street condominium, a 25-story luxury building offering 120 home residences that range from one, two or three bedrooms.
In addition to its activities in the New Brunswick area, Boraie Development has also focused on areas that include Newark and Atlantic City. The Aspire, a 17 story luxury hi-rise, located in Atlantic City, offers 238 units including studio, one and two bedroom apartments while the 23 story tower, One Rector Street in Newark, takes in more than 150 rental units.
As a prominent philanthropist, Boraie has teamed up with Rutgers University to advance cancer diagnosis and treatment. The Omar Boraie Chair in Genomic Science was created
in 2015 after Boraie’s $1.5 million pledge to support the genomic science and precision medicine approach.
Following in his fathers footsteps, Boraie’s son, Wasseem Boraie, executive vice president at Boraie Development, has come up with original initiatives of his own. For example, he refurbished an area around Richard Stockon College that today offer condominiums that house up to 400 students.
Boraie Development’s urban investment strategy focuses on the expansion of commercial, retail establishments and residential properties. The company makes available property management services that take in maintenance, leasing and accounting.
The original story can be found at The Entrepreneurs In The Real Estate Industry blog that was published through Central Jersey Working Moms at (http://centraljerseyworkingmoms.com/entrepreneurs-in-the-real-estate-industry/)