Real Estate Development (1)


Newark Seeing Economic Improvement and Attracting Development

Newark, New Jersey has done a serious turn around since economically hard times with several new projects in the works, according to a NJBIZ article. During the Newark CRE Summit, the city’s economic improvements over the years was highlighted. Real estate and industry leaders discussed ongoing projects as well as where they hope the city to be developmentally in the future.

Among the top professionals is Wasseem Boraie, vice president of Boraie Development. Boraie attributes the turnaround in Newark to several smaller projects going on that are, in turn, attracting more developers to consider the area. According to him, in the past, city officials had focused too much on getting one big development hoping a “Big Bang” would help the city get the momentum it needed; however, Boraie says it was a foolish thought, and it is better to have several smaller, more meaningful projects in the works. The ultimate hope of Newark is to attract contractors and investors who have sought opportunities in Manhattan.

Boraie Development is a full scale real estate firm that specializes in real estate development, property management as well as real estate sales. Working in Newark and New Brunswick, Boraie has had their hand in the development of several projects to help the cities grow. One project is the Aspire in New Brunswick, a residential building leasing units. A luxury complex, the Aspire has a resident’s lounge, full concierge services and floor plans with a designer finish.

Wasseem Boraie has been vice president at Boraie Development LLC since 1999. He has degrees in International Business, Finance and English from New York University’s Leonard N. Stern School of Business. On the panel of several real estate conferences, Boraie is known as an expert in the real estate and development world. He has spent more than 17 years with the company that has a 30-year track record of excellence in the real estate development world in New Jersey and New York City. Experts in urban development, Boraie Development focuses on rejuvenating cities into places that will attract more tourists and residents increasing the wealth and prosperity of the city.

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