Category Archives: Newark

Shaquille O’Neal and Boraie Development Hosting “Believe in Newark” Tourney

 

NJ.com reports that basketball giant (both literally and figuratively) Shaquille O’Neal is returning to his native Newark, New Jersey to co-host a basketball tournament that is scheduled to take place right in front of City Hall. Along with Newark Mayor Ras Baraka, the 7’ 2” retired sports star will oversee the games. Both male and female high school players are eligible to register. Preliminary games were held at the JFK Recreation Center. O’Neal himself began his illustrious career on a Newark high school basketball team.

Newark was a really rough place when O’Neal was growing up here in the 70s. That is why his parents did everything in their power to keep him off the streets. They enrolled him in the local Boys and Girls Club. Although he left to pursue his fantastic basketball career, he has maintained a presence in Newark. Throughout the years he has put millions into its economy via various investments. Back in 2012, he partnered with real estate developer, the New Brunswick-based Boraie Development, to resurrect an old, run down theater in his beloved city.

That was only the beginning. Before it played out, a sport’s legend partnering on a real estate project was considered risky. Other stars have done it in the past and have ended up having to file bankruptcy. However, that has always been because the stars partnered with companies that didn’t really have what it takes. Boraie Development definitely has what it takes and O’Neal found that out from the first project. The theater turned out perfectly and has proven to be an enormous success. Since its opening, attendance at the venue has doubled every year.

Shaq and the real estate juggernaut continue to run Newark development projects together. The partnership has worked extremely well for both. It wasn’t long before the partnership began garnering quite a bit of public attention. This is not unusual especially considering O’Neal’s enormous fame and wealth. Because of his already enormous wealth, he is not really doing this for the money. His primary aim is to help his native home. That being said, O’Neal has also partnered with Boraie on real estate ventures in other cities.

He has several other business ventures but still remains a part of the planning process with Boraie. The vastly experienced and knowledgeable Boraie then handles all of the details of the operation.