JM acquires building rights for residential development in Solna, Stockholm, and signs agreement for new head office

JM has acquired building rights from Fabege for the development of approximately 450 residential units located in Huvudsta, Solna. The property value in the acquisition amounts to SEK 484m, including a paid development contribution. Occupancy and payment will take place during the second quarter of 2023.

The acquired building rights are included in the detailed plan for Huvudsta 3:1 in Solna Municipality just north of Stockholm. The detailed plan has gained legal force and allows for the development of approximately 450 residential units. The acquisition will be reported within the JM Residential Stockholm business segment in the second quarter of 2023.

– Solna is a very attractive municipality, and we are pleased to be able to strengthen our position with additional building rights in the area, says Malin Lindskog, regional manager for JM Stockholm North.

The building rights are nicely located in Huvudsta close to Ulvsunda Lake and the Huvudsta subway station. Production start is expected in 2024.

In conjunction with the acquisition, JM has signed a rental agreement for its new head office, consisting of approximately 6,500 m2, in Fabege’s project Haga Norra in Solna. The property is under construction and occupancy will occur in the fall of 2024.

For additional information, please contact:
Malin Lindskog, Regional Manager JM Residential Stockholm North, +46 (0)8 782 89 70
Simon Backe, Regional Manager JM Property Development Stockholm, +46 (0)8 782 11 58
Katarina Rimmerfeldt, Head of Communications JM Group, +46 (0)73 432 61 20

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 16 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.