JM acquiring building rights in Järvastaden, Solna
JM is acquiring building rights from Vasakronan for 47 single-family homes in Järvastaden, Solna, which is located just north of Stockholm. The property value in the deal is SEK 129m. Occupancy and payment are expected to take place in Q1 2018. JM has been active in Järvastaden since 2006, and will continue developing the area through the acquisition.
The acquired building rights are included in the detailed plan for Grankällan in Järvastaden, Solna. The detailed plan has gained final approval for 47 homes. The building rights are being acquired through an agreement signed by JM and Vasakronan in 2006. The acquisition will be reported within the JM Residential Stockholm business segment in Q1 2018.
“Solna is a very attractive municipality, and we are very happy we have the opportunity to strengthen our position with an additional single-family home project in Järvastaden,” says Erik Ragnerstam, regional manager for JM Stockholm East Region.
Järvastaden is located in the northern part of Solna and Sundbyberg, just north of Stockholm, and has been gradually developed since 2006. Järvastaden is located next to the Igelbäcken nature reserve, and is about 10 minutes from downtown Stockholm by train.
About the project
JM is planning the Solna Trädgårdskvarter project, which will include well-planned townhouses and linked houses of varying sizes. The sales start for the first phase is scheduled for spring 2018.
For additional information, please contact:
Erik Ragnerstam, Regional Manager, JM Stockholm East Region, +46 (0)8 782 13 48
Sepideh Imani, Head of Communication and Analysis, +46 (0)8 782 14 29
This information is information that JM AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 2018-03-22.
JM is one of the leading developers of housing and residential areas in the Nordic region. Operations focus on new production of homes in attractive locations, with emphasis on expanding metropolitan areas and university towns in Sweden, Norway and Finland. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM should promote long-term sustainability work in all of its operations. Annual sales total approximately SEK 17 billion and the company has about 2,500 employees. JM is a public limited company listed on NASDAQ Stockholm, in the Large Cap segment. More information is available at www.jm.se/en.