Establishing Bonum Utvikling
Bonum Utvikling will be responsible for the larger collaboration-based development projects. Bonum will thus take the step from being a residential developer with
Salman Saeed (31) from Linstow and Kjell Kristian Olstad (30) from Stor-Oslo Eiendom will lead the new venture Bonum Utvikling.
– Bonum Utvikling will be responsible for the larger collaboration-based development projects. Bonum will thus take the step from being a residential developer today with projects on its own balance sheet, to becoming a property developer undertaking larger projects with a longer time horizon, in collaboration with other players, says Thomas Bø, managing director of Bonum.
– We are experiencing a great influx of properties that do not come onto the market and property owners who want a partnership with Bonum. Through Bonum Utvikling, we will facilitate the implementation of larger development projects in collaboration with financial partners and property owners, says Bø.
– For us, this is a natural further development of Bonum, which in addition to possessing the industrial expertise will also gain financial expertise in the organisation, and thus become a complete property house that can deliver everything from A to Z, he continues.
Through the establishment of Bonum Utvikling, Bonum will also expand its area of operations to include commercial buildings, in addition to residential properties, which has been the niche until now.
The way forward
Bonum Utvikling will be opportunistic in its approach and invest actively in development properties. Project management, project control and responsibility for the developer role in the project will continue to lie with Bonum AS, which has gradually built up solid expertise and documented delivery capability on various types of development projects: both greenfield and brownfield, as well as smaller conversion projects.
– With Salman and Kjell Kristian on the team, we have been fortunate enough to pick from the top shelf. They are young, forward-leaning, hungry and fit Bonum's profile. We are confident that they have the expertise required for Bonum to continue to grow and take the step up to become a leading property developer in the city, believes Bø.
Open to collaboration
Bonum Utvikling will be operational from 1 August and will already be ready to invest at that point. – We have many potential projects that we are considering, whilst Bonum also has a number of partners who have expressed their interest in collaborating with us on the ownership side in the projects. Now it remains to settle on the right projects with the right profile for Bonum Utvikling, says Salman Saeed. – Bonum has been built up over time through good collaborations and relationships, and our doors are always open, Saeed replies when asked how one can potentially get in touch for a collaboration with Bonum Utvikling.
