JM acquires property for residential development in Ekerö, Stockholm
JM has signed a final agreement to acquire land with a detailed development plan for residential development. The deal is worth SEK 90m.
JM will gain access through property regulation in two stages, during Q2 2019 and Q2 2020. The majority of the payment will be made during Q2 2019, with the remainder being preliminarily paid during Q2 2020.
The acquired property is Ekerö Tappsund 1:76 located in Ekerö in the vicinity of Ekerö center. The property is part of a larger development area and has gained final approval for a detailed plan of 100 apartments. The acquisition will be reported within the JM Residential Stockholm business segment in Q2 2019.
“As developers with a long-term focus, we are very pleased to continue the development of the area around Ekerö center. It is an attractive area, close to water and transportation,” says Elin Blixt, Regional Manager of JM Stockholm South.
For additional information, please contact:
Elin Blixt, Regional Manager, JM Stockholm South Region, +46 (0)8 782 12 57
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 08:00 CET on 2019-05-20.
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 2,600 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.
Tags: