JM signs co-operation agreement with Familjebostäder

JM signs co-operation agreement with Familjebostäder JM AB will be selling 94 apartments in production - part of the Hedvig 16 holding in Spånga Solhem, on the west side of Stockholm - to AB Familjebostäder. The sale includes completion of the project by 2006. "Fully developed, Spånga Solhem will comprise approximately 400 apartments. We look favourably on the fact that this new area will contain a mixture of concession forms," says Zdravko Markovski, head of JM Residential Stockholm business unit manager. "By acquiring already zoned land we can already begin building an additional 94 attractive rental apartments this autumn," says Hans Pettersson, President of AB Familjebostäder. "There is a great need for rental apartments, and in this way we will gain a more even distribution over time in our assignment to build 2,000 rental apartments. As part of the discussions with Familjebostäder concerning Spånga Solhem, opportunities for continued co-operation between the companies in other areas have been discussed. The aim of the co-operation is to come up with a good mix of rental units and tenant-owner co-operatives in various projects. For additional information please contact: Zdravko Markovski, Head of JM Residential Stockholm business unit, JM AB, tel. +46-8-782 88 13, or Sten Lindberg, Transactions and Analysis, JM Residential Stockholm, JM AB, tel. +46-8-782 87 50. Hans Pettersson, President, AB Familjebostäder, tel. +46-8-737 22 88, or +46-70-737 22 88 Stockholm, 1 June 2004 JM AB Corporate Communications This and earlier press releases are also available at www.jm.se JM AB is a public limited company listed on the Stockholm Stock Exchange. JM has around 2,200 employees in Sweden, Norway, Denmark and Belgium and annual sales of approximately SEK 8 billion. The company is Sweden's leading housing developer, and the core business is project development of residential property and, to a selective extent, commercial premises in central areas of growth markets. JM's operations are characterised by a broad focus on quality and the environment. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/06/01/20040602BIT20790/wkr0001.pdf Pdf

About Us

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.

Subscribe

Documents & Links