JM and Skanska continue to develop Täby Park

Now that the initial local plan has been adopted for Täby Park, JM and Skanska will continue developing the new neighborhood in Täby, north of Stockholm. Collaboration is based on a joint acquisition that was made in 2011, and each party owns 50%.

In addition to the previously paid down payment, JM will pay SEK 253m in January 2018, in conjunction with the local plan being adopted. The underlying property value is approximately SEK 350m. Additional purchase sums till be set and paid as additional local plans are adopted. The project period as a whole is expected to be 20-25 years.

The land comprises around 70 hectares. The planning program includes an entirely new district with approximately 6,000 homes, in addition to workplaces and services. JM’s share of the initial local plan includes around 450 building rights for tenant-owned apartments and 130 for rental units.

“Development of Täby Park is a long-term commitment, which over time will be extremely valuable for JM and the growing Stockholm region,” says Annika Berg, regional manager for JM Stockholm North Region. “We are very pleased that the initial local plan is in place, and we are looking forward to production start-up in the spring and continued positive cooperation with Täby Municipality and Skanska.”

For additional information, please contact: 
Annika Berg, Regional Manager, JM Stockholm North Region, +46 (0)8 782 15 22
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 07:30 CET on 2018-01-31.

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.

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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.