Category Archives: Real Estate Expectations

Boraie Development LLC Successfully Opens New Apartment Complex In Atlantic City

New Brunswick-based Boraie Development LLC recently completed a market-rate 240-unit apartment complex in Atlantic City. Vice President Wasseem Boraie said they were pleased that over 120 of the units had been rented out before the project was completed. The project cost $85 million.He said that people were willing to pay more rent than he thought would be possible in Atlantic City. There were a lot of so-called experts in this city who thought a project of this type couldn’t succeed. Boraie could see a neighborhood built up around his company’s apartment complex due to its sheer scale.

Boraie Development benefitted from other real estate projects in the area. A New Hard Rock Hotel & Casino is nearby and the Revel resort has reopened. In the other direction, there is a beachfront campus for Stockton University and a new headquarters for South Jersey Industries in the Gateway Project. Wasseem Boraie also gave credit to local officials. He said that Planning Director Barbara Woolley and Special Counsel Jim Johnson were especially helpful. They liked the questions they asked and the thoughts they had on the best way for Boraie Development to proceed. He feels that there is now a real plan in place to grow Atlantic City.

Hussain Sajwani, the Gifted DAMAC owner

Hussain Sajwani doubles up as the Chief Executive Officer, and owner of DAMAC Properties, a worldwide company involved in development of luxury property. The DAMAC owner is popular for his revolutionary role in the property development arena in the United Arab Emirates. He is a great and influential leader in the Arab world. His exceptional leadership skills, coupled with his success with DAMAC, have made Sajwani one of the top 100 most respected Arabs. He is also ranked tenth in the list of most wealthy Arabs.

Hussain Sajwani is also a highly experienced and knowledgeable man in the business field. Before founding DAMAC, Sajwani had worked for GASCO, in Abu Dhabi, as a manager of contracts. Later on, he established his first company, a catering business. With his exceptional talent for business and leadership styles, the catering business grew to become a trendsetter in Asia and the rest of the world. The company was the primary provider of catering and ancillary services to the United States Army in their camps in the Middle East. The company is also reputed for its high-quality services to five-star hotels, educational institutions and, construction campsites.

Hussain Sajwani has made a notable contribution to the development of the property market in Dubai. He is well versed in the dynamics of the industry. As per, Sajwani’s rare combination of skills in finance, administration, sales, marketing, and legal matters have put him ahead of other players in the property development industry. For this reason, DAMAC Properties has quickly grown to become a global leader in the market. The company has several high-profile projects in the world’s renowned cities like London, Beirut, Dubai, Abu Dhabi and, Riyadh among others.

Today, Hussain Sajwani is one of the major employers in Dubai. DAMAC Properties alone has employed about 2,000 workers and, is publicly listed, with shares trading at the Dubai Financial Market. The company has completed over 21,700 luxury housing units. DAMAC Properties has 40,000 units in different development phases under its portfolio.

The DAMAC owner has also put a stake in other investment areas. Through DICO Investments Co LLC, Sajwani invests in mergers and acquisitions, private equities and value propositions in the local and international arena. Sajwani also engages in building materials business through his Omani based firm, Al Amana Building Materials. The company is the one behind leading brands like Villeroy & Boch, Dorn Bracht and, Grohe among others. The DAMAC owner also operates the Al Anwar Ceramic Tiles Co, the sole tile manufacturer in Oman.

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Luxury Properties To Remain Popular As The New York Real Estate Market Slows

The real estate markets of New York look set for a rocky year in 2016 as the luxury markets of the city continue to grow at a fast pace. The New York Daily News explains the expected rise in interest rates that will be seen in 2016 could see the markets slow in geographic areas that have seen growth in recent years. Despite the problems New York real estate agents are expecting the continued success of the luxury condo market priced above $10 billion, and the Brooklyn rental market will continue to be successful in the coming months.

A New York based real estate brokerage who is looking for continued success in the luxury markets is Town Residential, which was established by Andrew Heiberger in 2009; Heiberger is a well known figure in the New York real estate scene who has seen his agency become one of the top 10 rated luxury agencies in the Big Apple.

The success of Town Residential is based around the abilities of the agents and management team Andrew Heiberger has assembled over the course of the life of the company. Town Residential regularly appears on the top 50 places to work in New York list because of the support offered by the management of the company and the opportunities offered to talented new agents.

Rising interest rates will make life more difficult for agents across New York city, which will be seen in the fact deals are completed over a longer period of time than experienced agents are used to. The luxury market will remain one of the top areas of growth for real estate professionals who will see entry level properties priced between $1 million and $3 million sell at their usual fast rate. Rental properties are another area expected to be of continued growth as thousands of new rental properties will enter the market in Brooklyn; discounted rents for a limited period are expected to ensure this market continues to be a success in the future.