In an article published through centraljerseyworkingmoms.com on June 2017, it was noted that New Jersey is standing on the verge of ushering a new era in real estate development. Since the end of Great Recession, the state has posted significant positive steps towards stabilizing its real estate industry. This has been marked by the number of foreclosure dropping significantly while more people are taking residential mortgages. The significantly high demand for real estate properties in the state has been helped in part by the high rate of employment and an increase in the number of households. Moreover, house prices and rents have increased over the years.
With many property developers shelving many properties to wait for higher market prices, there is a growing demand for residential and commercial properties. However, many towns close to the New Jersey Transit station have seen the prices, demand and supply of properties skyrocket. These trends have been driven by proximity to the transit station and economists predict that the rest of New Jersey will follow suit with the growing number of new jobs created, which will drive demand and prices for properties. This will force property developers to release the shelved properties into the market. Moreover, it will encourage property developers such as Boraie Development to develop properties that suit the new generation of property buyers.
According to fundacity.com, Boraie Development was founded in 1972 by Omar Boraie as a platform to realize dream of transforming the skylines of American cities with New Brunswick as the pilot city. Having traveled overseas for several years, Mr. Boraie envisioned a new era of real estate development in the city characterized by high-end office spaces, apartments and modern amenities. His objective was to make the city attractive to businesses, young professionals and millennial. As the president of the company, Mr. Sam Boraie has overseen the growth of the company into a leading and trusted property developer and manager with over $100 millions in property sale.
The company’s portfolio of excellent and magnificent properties includes The Aspire, Albany Street Plaza Tower One and Spring Street Condominium Building, which have been customized with modern facilities and amenities. On its Facebook page, Boraie holds that its successes have been made possible through strong partnerships with various players who understand the company’s objectives and share in its vision. These include financial institutions, contractors and architects who have helped the company expand its operations to new cities beyond New Brunswick where it is headquartered. Visit the website; boraie.com.