Recently, Shaquille O’Neil — an NBA basketball legend — along with the Boraie Group have teamed up on a development project in the city of Newark, N.J. The new development called Shaq Towers includes some spectacular river views and also sights across the Hudson, which include Manhattan, New York.
Shaquille O’Neal also announced another 150 million dollar building, which includes 350 market-rate apartments. According to Rutgers, this property will be located on McCarter Highway. O’Neal noted that a major business owner is planning to occupy the top floor of the Shaq Towers. The Shaq Towers was the first high-rise built in Newark in approximately five decades.
What Does Boraie Do As A Company?
Boraie Development is a company that provides property management, real estate development, and real estate marketing for the areas surrounding New Brunswick, N.J. Their specialties include working with financial institutions, architects, and contractors that understand the significance of deadlines.
Boraie Development has also been in the real estate milieu for many decades. Boraie, a family-owned company has had a history of making long-term investments in less-than-perfect areas like Newark and New Brunswick.
Boraie Development and its Focus on Millennials
Concerning its focus on Millennials, Wasseem Boraie, a company leader who serves as the company vice president, noted that he and Boraie Development intend to give Atlantic City, New Jersey, a new product. And a new product that would be created instead of a casino or other gaming-related venture. Omar Boraie is betting on Atlantic City becoming a destination that millennials would deem a go-to place.
Boraie recently spoke at a conference sponsored by the Southern New Jersey Chamber of Commerce titled the Future of Atlantic City conference. According to bloomberg.com, at this event, Mr. Boraie remarked that now is the right time to reface an old gaming town.
Mr. Boraie and Boraie Development are building something that would make “millennials want to live here.” This 81 million dollar project called the Beach at South Inlet. This project will include 250 luxury units with many amenities and state-of-the-art upgrades. The project, as Wasseem Boraie noted, is the first project in many decades for Atlantic City.
Omar Boraie, who is a well-known business leader in the New Brunswick, New Jersey area is one of the executives of Boraie Development as well as Wasseem Boraie. Mr. Boraie is also the Chair of Genomic Science, which was established at Rutgers Cancer Institute.