JM buys waterfront land for housing development in Täby

JM buys waterfront land for housing development in Täby JM AB has acquired land for 600 residential units on the site of the former flottila base in Hägernäs from the municipality of Täby and Vasakronan AB. The proposed plan includes attractive lakeside apartments with an interspersion of offices and commercial premises. The purchase price is MSEK 335. The local area contains a sports center, a hockey rink and retail shops. Communications are excellent thanks to close proximity to the E18 motorway with direct access to Stockholm University and Roslagstull. A new footbridge will be built over the motorway to the nearby Roslagsbanan streetcar station. In the proposed plan, culturally and historically valuable buildings will be preserved, as will the unique seaplane hangar built in the late 1920s. The hangar will be renovated and used as a parking structure for residents. By the lake, a watertfront esplanade and restaurant are planned. "We see major potential for attractive housing in the Täby area, where JM has been active since the 1960s. Now we have the opportunity to develop housing in the best possible locations for the next four to five years," says JM's President and CEO Carl Eric Stålberg. For additional information, contact Business Area Manager Lars Fränne, telephone +46-8-782 87 58 or +46-8-70-582 87 58. Stockholm, 2 April 2001 JM AB Group Staff Communications This and earlier press releases are also available at ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download:

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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.