To lead new venture

They are young, hungry and have already made their mark in the property industry. Now they are resigning from their jobs to lead a major new venture at an already established player.

Investment managers Salman Saeed (31) and Kjell Kristian Olstad (30) are leaving Linstow and Stor-Oslo Eiendom respectively. Saeed has been with Linstow for three years, where he has worked on evaluating investment opportunities and executing transactions (purchases/sales) both in Norway and abroad. Furthermore, Saeed, together with Linstow's investment director, has been responsible for the company's investment strategy, where Saeed has had particular responsibility within the hotel and office segments.

Saeed is also chairman of the network Ung i Næringseiendom (UiN), which he helped to establish.

Last year, Saeed was one of those featured in the annual "10 on the rise" in Estate Magasin, which is a recognition of the industry's rising stars.

Incredible growth

Olstad has worked for five years at Stor-Oslo Eiendom, where he has been responsible for transactions and financing of property projects. He joined the then Stor-Oslo Management early on, which was established in 2009.
Olstad has been part of building a successful company, which today is part of Stor-Oslo Eiendom, following the merger in 2015. He started as an analyst and today works with investments and finance in the company. During these years, the portfolio has grown to a respectable 13 billion kroner (market value).

– It has been a very exciting and educational time at Linstow, which is one of the heaviest and most respected within the industry. The time has been characterised by a steep learning curve where I have been given much responsibility from the start and the opportunity to work with what I find most exciting, transactions and investments, says Saeed.

Saeed has a master's degree in real estate from the University of Ås and has completed additional training in financial subjects at KTH/SE.

Olstad can also soon look back on five excellent years.

– It has been an enjoyable time in a company that has experienced significant growth in a few years. I was in early on what was formerly called Stor-Oslo Management and have been part of building up Stor-Oslo Eiendom's "finance department". It has been an incredibly educational and exciting journey I have been able to be part of, he says.

Olstad has a background as a Master of Economics and Business Administration from the Norwegian School of Economics in Bergen, with a specialisation in finance.

Foretaste

– Without revealing too much, we can say that we will contribute our expertise in structuring/syndication, transactions, management and development of larger projects, to create what will be a new venture and a natural further development of an already well-established and respected property developer in Oslo, says Saeed.

They will thus in many ways be the new financial arm of an established industrial player. Saeed and Olstad do not wish to disclose the name of this player yet.

– We will bring with us what has been good in our respective jobs, and at the same time be innovative and think a bit differently than the large established companies. This will be property development that end users will want and partners will want to be part of. We are so fortunate that we will do this with an already well-established and respected property developer in Oslo, there will be substance and synergy between finance and project execution, he continues.

Right timing

Both Saeed and Olstad agree that the timing is good, both in terms of career and new plans.

– Taking the step forward by establishing something new and thus being allowed to help build a business based on our expertise, drive and commitment to the property profession will be exciting. We are also particularly fortunate to have the opportunity to do this together with a player who is as forward-leaning and ambitious as ourselves, says Olstad.

When asked when they will reveal further plans and which player they are joining, they answer August.