JM acquiring property in Espoo, Helsinki

JM is acquiring a centrally located school property in Leppävaara, Espoo in the Greater Helsinki area. The property’s detailed plan has gained final approval for 850 apartments.

The deal is worth SEK 240m and will be reported in Q2 2018 under the JM International business segment. Payment will be made in Q3 2018. The acquired property is centrally located in Leppävaara, Espoo, close to both the Sello shopping center and the bus and train station. Current school activities will be moved to new premises at a different location. 

“The property is nicely situated in Leppävaara, and is within walking distance of the shopping center and public transit. This is a strategic acquisition and forms a good foundation for several years of sales and production. We are well prepared, and sales will begin in the fall,” says Markus Heino, president of JM Finland.

JM will certify all new residential units in Finland, Sweden and Norway according to the Nordic Swan Ecolabel. JM is thus the first Nordic construction company to certify its entire production of residential units in accordance with the Nordic Swan Ecolabel.

For additional information, please contact: 
Markus Heino, President JM Finland, +358 405 00 1263
Martin Asp, Business Unit Manager JM International, +46 (0)8 782 89 85
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 08:15 CET on 2018-07-02.

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 2,600 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.

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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 the main focus on expanding metropolitan areas and university towns in Sweden, Norway, Denmark, Finland and Belgium. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM seeks to promote long-term quality and environmental considerations in all 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 OMX Stockholm, in the Large Cap segment.