Omar Boraie is the patriarch of the Boraie family. He owns and operates Boraie Development. His company builds and manages residential towers in New Jersey’s urban areas. His sons, Wasseem and Sam, are leaders at his company. The Boraie family recently celebrated the completion of their latest project. This is 50 Rector Park in Newark. It is a 22-story residential tower with 170 units. Residents have access to first-class amenities. It took over 10 years to complete this project. Omar Boraie stated they exercised patience and waited for the right time to get started on this construction. Omar Boraie built a residential tower in New Brunswick which led to the rebirth of that city.
It attracted people, which led to people on the streets. This led to restaurants and shops opening nearby. He has a similar vision for Newark. Several years ago, he was called crazy for wanting to build in Newark. He told people he believes in Newark and what it can become. Four months after opening, 55% of the units in 50 Rector Park are now occupied. Omar Boraie says his company didn’t accomplish this alone. He gave credit to his partners and government officials. He noted, in particular, how the New Jersey Economic Development Authority helped get this project built. The CEO of the New Jersey Development Authority, Leslie Anderson, said she loved working with the Boraie family on the project. She said they really care about the quality of their work because they have concern for the people who will live in one of their towers.