Omar Boraie’s Vision for New Jersey’s Real Estate
is a renowned New Jersey realtor
with over four decades in the industry. He rose into fame about 20 years ago when he started buying properties in the state at a time when both residents and investors were running away from the state. His vision was to transform New Jersey into a state having quality housing and office spaces to help attract back residents and investors who had the state. His vision has since paid in attracting people in the region. He is the founder of Boraie development LLC, a company he heads as the president.
About 40 years ago, Omar Boraie had a strange vision for New Brunswick real estate. He believed the strategic location of the city could help to make it an important destination and hence an important real estate market. However, during that period and the years that followed, New Brunswick continued to face tough economic conditions. Businesses started moving out of the city. People, faced with acute job shortage and worsening economy, also decided to move to nearby states. New Brunswick lost over 200,000 residents in early 1980s. This led to the once populated city turning into a ghost town.
Omar Boraie started to work on his vision for the city as early as 1972. His vision was to transform the city to look like European cities that he had visited during his tour of Europe as an Egyptian chemistry scholar. His plan involved buying several building and then redeveloping them into modern housing and office blocks. Due to financial constrains, this was never an easy task. He started buying one vacant building after another. He, however, did not start developing the lands until he had acquired over 21 buildings. His company came up with a new plan for the block and then forwarded the plan to the city hall. The officials at the city hall could not believe in the plan and they actually made jokes about it.
The journey was not easy, as the city’s economy started picking up again in the 90s and early 2000s; the United States started facing economic slowdown that ended up in the economic depression of 2008. The recessions made residents to lose their purchasing power thus forcing banks to take back ownership of their houses. With several modern buildings and booming economy in the city, both residents and investors have returned. This has made Boraie a very wealthy realtor. His company is also constantly marketing New Brunswick on several platforms to attract investors from around the globe.