Real estate developer Omar Boraie came to the United States from Egypt to study chemistry. However, while studying for his Ph.D. in chemistry at Rutgers University in New Brunswick, New Jersey. After purchasing his first home Boraie discovered that he was much more interested in pursuing a career in real estate. A career that is still going strong more than forty years later.
According to NJBiz, Boraie entered the real estate market in the early seventies when downtown New Brunswick like many urban areas had fallen into disrepair. While others saw hopelessness, Omar saw the possibility of a vibrant New Brunswick. Omar Boraie is a humble man who is often credited as being the catalyst for the revitalization of downtown New Brunswick but he does not hesitate to share the credit with others who shared his vision for the city. Today New Brunswick continues to thrive and attract businesses.
Omar Boraie founded Boraie Development, LLC in 1986. The company develops, manages and sells commercial and residential properties in New Brunswick and other urban areas in New Jersey. Most New Brunswick officials scoffed at Boraie’s ambitious plan to build a modern office complex on property that he owned on Albany Street near the New Brunswick Train Station. Despite the skepticism, the plans were approved. Tower I at Albany Plaza opened in 1988 and has been the location of Boraie Development’s Offices ever since. Tower II opened in 2003. Together the towers provide over 250,000 square feet of prime office and retail space. Tower III is currently on the drawing table.
One Spring Street opened in 2007. It has 25 stories and remains New Brunswick’s tallest Building. The mixed-use complex features 121 luxury condos as well as office space, retail space and a large parking garage. One Rector Street is a joint project with NBA star with NBA great Shaquille O’Neal. This property is the first residential high-rise built in Newark since 1960.
Omar Boraie has also been recognized for his philanthropy. The former chemist has a strong interest in cancer research. In April 2015 Rutgers University announced the establishment of the Omar Boraie Chair in Genomic Science. The Chair was named in Boraie’s honor after he made a 1.5-million-dollar donation to Rutgers Genomic Science Project on behalf of himself and his family. Source: Rutgers The endowment was matched by an anonymous donor and will help support genomic cancer research well into future. Omar Boraie is also a board member of Elijah’s Promise an organization that helps feed the homeless in New Brunswick. http://patch.com/new-jersey/newbrunswick/omar-boraie-chair-genomic-science-established-rutgers-cancer-institute
At 73 years young Omar Boraie shows no signs of slowing down. Boraie Development, LLC currently has projects in progress in New Brunswick, Atlantic City, and Milltown New Jersey. With Omar Boraie as its driving force and several major projects on the drawing board, the future looks bright for Boraie Development, LLC.