Category: Real Estate Portfolio

Roberto Santiago’s Manaira Shopping Withstands The Economic Crisis

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In the face of economic crisis in Brazil, many sectors have experienced losses. However, the ongoing crisis seems to have spared the shopping center sector. According to the data released by the Brazilian Association of Shopping Centers (Abrasce), the shopping center segment made a growth of 6.5 percent in 2015. The sector’s turnover hit almost $150 billion. The survey, which was also contributed by the Urban Studies Group (GEU), is good news for businessmen in the shopping mall sector. The positive results are a testament to the outstanding customer services offered by most of the malls in Brazil. The country has 538 shopping centers while 30 are still under construction. This indicates the dominance of this sector in the economy of Brazil. The research indicated that the shopping mall industry offers close to 54,000 job opportunities.

Learn more: http://pbnews.com.br/cidades/2014/12/abertura-do-mangabeira-shopping-para-convidados-e-marcada-por-fortes-emocoes.html

The impact of these results is evident in the Northeast, which is the second largest region in Brazil with malls. The State of Paraiba is also among the regions celebrating the strength of the shopping mall sector. The Paraiba-based Manaira Shopping, one of Roberto Santiago’s ventures, is an example of the shopping malls that have weathered the storm. In the midst of the economic crisis, Manaira Shopping has registered impressive growth and development. The venture tops the list of five commercial centers in Paraiba in terms of gross leasable area. According to the site’s marketing manager, Rafaella Barros, Roberto Santiago Manaira Shopping has a gross leasable area of 75,000 square meters. Recent reports showed that over 40 percent of businessmen in Brazil expect the industry to grow by 5 percent in 2016 while over 60 percent of shopping mall owners believe that the crisis will not affect their businesses. Many Shopping malls, including Manaira registered high household consumption. Mr. Barros said that Manaira’s future expansion and growth will contribute to the development of the shopping center sector.

Manaira Shopping was launched in 1989 to offer leisure, fun, and entertainment. The facility is surrounded by the beaches of the north coast of Joao Pessoa. It has 280 stalls. Manaira has 11 rooms, including VIP and 3D rooms having modern appliances and their seat arrangement resemble the stadium system to allow for better visibility. It also has modern electronic slopes for bowling and an electronic amusement park with over 200 playing machines that suit all ages and preferences. The shopping mall has modern food courts and restaurants. The food is prepared by some of the renowned chefs in the globe. Other services offered at Manaira Shopping mall are balling and fitness. There is also an education center. Notably, Manaira shopping has made significant contribution to the economic and social development of the region. The properties surrounding the mall have appreciated, thus attracting many other establishments in the region. Read more on clickpb.com.

Sam Boraie; Breathing Life into the New Brunswick Community

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Sam Boraie is the VP of Boraie Development. The company is a real estate development firm that has been involved in numerous projects in New Brunswick, NJ. Besides working in New Brunswick, the company has operations in Atlantic City and Newark.

Boraie Development Partners with Shaquille O’Neal

The company (http://www.prnewswire.com/news-releases/boraie-development-llc-opens-leasing-center-in-new-brunswick-new-jersey-300176946.html) recently partnered with Shaquille to bring an outstanding new building in his hometown of Newark. The building was the first new high-rise development in the town for over 50 years. The complex, which came at a cost of $60 million, was opened to the people of Newark for rent upon completion. O’Neal wanted to give back to his hometown while Boraie Development was willing to help him give back to his community. Besides the rental complex, the town also got a new movie theater. The citizens of the town of Newark were excited to have had a new theater in their town after so many years.

Boraie Development’s Premier Project

The Aspire is undoubtedly going to be one of the most luxurious properties in New Brunswick, reports Bloomberg.com. It is located steps away from the New Brunswick Train station. It is a full-service building where residents will have all their demands met. Some of the services include on-site management and a 24-hour doorman. Besides that, it features a garage that is fitted with an elevator service to the lobby. The interior fittings are a site to behold. It features gourmet kitchens that have custom quarter countertops, stainless steel appliances, in-home Bosch dryers and washer, and much more.

Other Developments Undertaken By the Company

The company has also been involved in some great work in Atlantic City. Its investment in Atlantic City is centered on the south inlet region of this city, which has historically been barren. The company prides itself in staying ahead of the pack with development that is beneficial to the communities in NJ. Its primary development in Atlantic City is focused on creating a 250-unit apartment building that will provide the people of NJ with quality housing.

Philanthropic Work by Sam Boraie

Sam Boraie is a member of the Board of Trustees for the historic State Theater NJ. Boraie Development has helped to sponsor a free summer movie series at the theater. The aim was to bring some entertainment to the people of New Brunswick while entertaining them. Various family favorites such as Monster University were shown. It was an opportunity for family and friends in the community to gather for an entertaining event.

Boraie is also on the advisory board of Elijah’s Promise, which is a charitable organization based in New Brunswick. Elijah’s Promise is a charity, which believes in using food to bring about change in the community. Besides that, the charity aims to use food to promote education, good health, and jobs for the community. It actualizes its wishes through various programs scattered throughout New Brunswick. The activities include a community garden and a soup kitchen. If it were not for the financial support that Sam Boraie and other provide to the charity, it would not be able to fulfill its mission.

View Sam Boraie’s full bio on crunchbase.com.

Categories: Real Estate Portfolio