Newark is a city that has not seen a lot of tremendous real estate growth in the last few decades. However, it has experienced a lot of development projects in the last three years that are set to try and bring it at par with other similar cities. As of August, 2015, the city was expected to get an image boost from basketball legend Shaquille O’Neal when he is expected to co-host a basketball tournament together with the City’s Mayor in front of the City Hall. The superstar who retired in 2011 after playing in the National Basketball League for 19 years was set to team with Ras Baraka, Newark City’s mayor.
The event was set to feature different tournaments for both boys and girls attending high school, reported NJ.com. Preliminary games and registrations were set to be held one weekend prior to the game at the JKF Recreation Center. O’Neal was born in Newark though he left for Texas to play. He was very instrumental in helping the opening of Cityplex Movie theater situated on Springfield Avenue. On the project, he teamed up with Boraie Development to come up with the $7 million needed for completion. One year later, he was also very instrumental in breaking ground for Newark’s highest building in 50 years.
When he grew up in Newark in the 1970’s, his family encouraged him to spend most of his time in places so that could encourage him stay away from the streets. He was mainly involved in going to the local movie theater as well as the local youth club that was very instrumental in discovering his basketball passion and talent. That is why he gave back to society by building a modern movie theater in partnership with Boraie Development.
Together with Boraie, the superstar has been able to improve his home city’s image by building modern apartment blocks that were to be rented out at standard market rates. Part of his development projects involve a 169-unit apartment that comes accompanied by features like a gym and pool with the rent starting out at $1,400 for a studio.
Boraie Development LLC is a well known retail estates company. The company also deals in property management, sales and marketing as well as modern real estate development. For successful completion of its projects, the company teams up with investors who range from individuals, financial institutions, contractors and architects. Led by the visionary Omar Boraie, the company has been able to make great strides when matters related to coming up with phenomenal projects in places that are often looked down are concerned. It has been able to transform areas from just ordinary to highly sought out real estate hot beds.