Shaquille O’Neal who is an NBA hall of famer and a Newark native decided to invest in the real estate market of his hometown. His dream was to try and restore the lost splendor of the small town of Newark. He recently came home to mark the topping off of his more than 20-storey apartment and retail building on Rector Street. The city’s local authority has thanked O’Neal for his immense efforts in helping the city. Murphy who is the governor of Newark area says the city is experiencing a potential change in economic and real estate sector. Check out patch.com
The mayor and Goldman Sachs were among the investors who helped to fund the project. The Goldman Sachs MD reiterated that the best kind of developers is not just those who construct classy downtown buildings but those who are willing to do projects in the communities for the benefit of the city. The rise of Shaq towers provides opportunities for the folks in Newark. It gives leeway for further development in the area. The project was a stepping stone for the coordination between O’Neal and the city which gave rise to the birth of project IMPACT.
Shaquille O’Neal says that he trusted the well-known developers known as Boraie Group to bring his dream building to reality. The vice president of Boraie Development, Wasseem Boraie says that although it is the first project in a long while, it represents the five decades of development that the city of Newark has experienced. O’Neal has also funded $150 million project building to be done by Boraie Development. The project is a 35 Storey building that is set to be erected at the heart of Newark on McCarter Highway. Boraie Development has already broken ground on the project with the hopes of bringing it to completion by 2019. For more info boraie.com
Boraie Group which is led by Omar Boraie is an urban real estate developing firm. The group offers a variety of services that focus on all areas of the downtown real estate market. The team specializes in Property Management and Real Estate Marketers. Boraie Development group provides state of the art service to its clients while building them spectacular properties. The firm which has been around for over three decades has been a leader in real estate in New Jersey. Its excellent ability to envision projects and to come up with the necessary capital to fund it is unparalleled.
Click here: http://www.boraie.com/company/