Sam Boraie is the vice president of Boraie Development, a New Brunswick-based real estate Company that specializes in sale, management, and development of real estate properties. Boraie Development works with various contractors, architects, and major financial institutions to oversee the construction of outstanding structures in a timely fashion. Omar Boraie, Sam Boraie’s father, and the company’s President is an Egyptian immigrant who founded the company in the 60s when he came to the country to pursue a doctorate in chemistry. Boraie Development is among the leading development companies in New Jersey and is actively involved in the growth of the New Jersey community. Among the company’s major developments in New Brunswick include the One Spring Street condominiums and the Albany Street Plaza Towers. The growth of Rutgers University bolstered the city’s real estate market as the demand for housing has continued to grow as the university’s enrolment numbers rise.
The company is working on the third Albany Street Plaza Tower, a mixed commercial and resident structure expected to have about 150,000 square feet of office space in the city. Their goal is to bring New Brunswick to the level of fist class cities in the country through the construction of next generation office and residential premises for companies looking to expand. Upcoming modern edifices such as Spring Street and the Aspire, all in New Brunswick under Boraie Development are a good example of world-class projects the company is dedicated to establish in the city.
Collaboration with Shaquille O’Neal
Boraie Development’s projects are widely distributed in other New Jersey cities such as Newark and Atlantic City. A recent collaboration with former NBA player Shaquille O’Neal will see the realization of several projects in Newark. One of these projects is the CityPlex12 Newark on Springfield Avenue, a newly renovated movie theater completed in 2012. The project cost the New Brunswick developer and the former NBA star a cool $7 million. Their latest project in Newark will be the first of its kind in about five decades. It’s a $60 million rental facility to be located in the heart of Newark. The details about the O’Neal- Boraie Development are skimpy, with both parties declining to comment on the matter, but sources say that as a co-developer, Mr. O’Neal gets an equity share for each project. Boraie Development and Mr. O’Neal are also working on a retail complex, Movie Theatre, and a market-rate residential tower in Atlantic City.
Sam Boraie and his father Omar Boraie have heavily invested in philanthropic activities in New Jersey. Their biggest benefactor is Elijah’s Promise, a Central New Jersey community dedicated to helping the most vulnerable members of the society through empowerment and provision of food to the homeless. Elijah’s Promise was established in 1989 and connects low-income families and individuals to health and social services. The facility also runs a café, a catering business, a culinary arts school, and a community soup kitchen. The Boraie family is also a major contributor towards good governance through politician funding.