JM acquires land for new housing at Telefonplan in Stockholm

JM acquires land for an additional 210 homes at Telefonplan in Stockholm for approximately SEK 120 million. Possession of the property and payment will take place in the first quarter of 2008. The seller is AP Fastigheter.

- This acquisition is yet another result of the excellent cooperation between AP Fastigheter and JM regarding the Telefonfabriken area, says Per Johansson, regional manager at JM.

Construction on this project is expected to start in 2009. The first residents should be able to start moving in during 2011.

Previously, JM acquired land for 123 homes in the same area, quite close to the University College of Arts, Crafts and Design (Konstfack). The project, which is called Torghusen, is very popular, with a lot of the homes already reserved. Production and sales are already underway and in January 2009 it will be ready to start moving in.