Atlantic City's Boraie Development: A Vision for Atlantic City

Wasseem Boraie is the founder and CEO of Boraie Development, a real estate investment, and development firm focused on commercial and residential properties in the greater Washington, DC, metropolitan area. Founded in 1999, Boraie Development has grown steadily over a decade, and it now has more than $1 billion under management.

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Boraie Development’s first significant project was a development project at the Washington Navy Yard. Located in Southeast Washington, the Navy Yard development is a mixed-use project that includes a hotel and apartments and a variety of retail outlets, including a grocery store. Boraie Development developed the Navy Yard project with Wasseem Boraie as the principal developer.

Omar Boraie - Boraie Development

The firm brought in key tenants and retailers early on to help make the development successful. Boraie Development’s portfolio includes several high-quality properties currently being marketed for sale or lease. In addition to Washington, DC, the firm’s portfolio includes properties in New York, Las Vegas, and other major cities.

Atlantic City remains one of the essential vacation destinations in the country, but it is not immune to the impacts of changes throughout the broader market. Reinvigorating Atlantic City encompasses a wide range of activities and initiatives, but there are five primary areas where we see the potential for significant impact. If executed effectively, these potential catalysts could be the tipping point that accelerates positive change across this once-great city. This article takes an in-depth look at one such catalyst – Boraie Development’s plan for transforming Atlantic City into an ultra-luxury destination.

Boraie Development has partnered with an international consulting firm to conduct an in-depth study of the opportunities for transforming Atlantic City into a world-class luxury destination. The consultants have conducted extensive research on the opportunities for expanding the city’s appeal to business and leisure travelers and have identified a series of potential catalysts that could help make Atlantic City more appealing to high-net-worth individuals. The consultants have also identified several key investment themes that could help increase the city’s appeal as a destination for wealthy travelers.