JM acquiring building rights in Mölndal, Gothenburg

JM is acquiring the “Kvarnbyvallen” project in Mölndal, Gothenburg. The deal is worth SEK 112 million including recognized costs in the project. Occupancy and payment will be in June 2013.

JM is planning to build approximately 230 residential units on the property. The local plan came into legal force in 2012, and development work is currently underway in the area. Sverigehuset and the Tuve Bygg group are the sellers.

"The acquisition reinforces JM's opportunities to continue taking part in the development of the Gothenburg area where demand for housing is great. The property is centrally located in Mölndal, close to Mölndals resecentrum,” says Martin Svahn, regional manager at JM.

For more information please contact:
Martin Svahn, Regional Manager Tel: +46 31-703 58 75
Anders Stålhammar, Communications Manager/Press Officer Tel: +46 8-782 19 18

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 the project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM should promote long-term quality and environmental management in all its operations. Annual sales total approximately SEK 13 billion and the company has some 2,200 employees. JM AB is a public limited company listed on NASDAQ OMX Stockholm, Mid Cap segment.