Omar Boraie’s Vision May Change the Economy in New Jersey


Looking at the present scenario of residential developments and real-estate price in New Jersey, it is important that each city needs to take the uncommon path for its long-awaited real-estate renaissance. If the development of New Brunswick is considered, then taking the newest route of high-rise residential development may prove beneficial for the cities in NJ. Although many economically affected cities around the nation have already revived from the worst-hit recession in 2008, cities in New Jersey are still under the negative effects with low real-estate prices.The Newark CRE Summit was held a few weeks back. Such an event always brings forward new opportunities in a city by highlighting the maximum economic developments in the city. During this event, many leaders came up with new ideas of construction and investment opportunities in this city. After a set of discussions and meetings, it was clear the Newark should look forward for a collection of simultaneous residential projects that will create a market for potential buyer while offering varied options of investment for prospective residents.

Boraie Development executive vice president Wasseem Boraie came up with the idea of new construction projects. In his speech, he highlighted the major class A projects in the city that include everything from pipeline constructions to road repair. According to him, these projects can bring a positive change in the city’s real-estate scenario in the long run. Another important point that he mentioned is the high-rise residential developments in the city.

Boraie Development founder Omar Boraie once said that his company’s high-rise apartment construction plan will help revive the economic conditions in New Brunswick. After the company started its project, nobody believed that it will be a success. Just within a few years from the project of the Albany Street Plaza Tower, each residential unit and office space was sold. Unlike many other New Jersey cities, New Brunswick has grown economically in a better manner in the past few years. This 25-storey building in the city is the tallest tower in the city, which features 121 residential units. Now Wasseem Boraie, the vice president of the Boraie Development also supports his father’s vision.

Boraie says that his company will come up with such new projects of high-rise residential apartment building constructions in other cities in NJ. Now their plan is to target Newark. Because this model worked wonderfully for the economic betterment in New Brunswick, it will surely help other cities in NJ to experience a positive economic growth impact.

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