JM acquiring buildings rights for residential development in Gothenburg
JM has acquired building rights for the development of approximately 130 residential units located in the Eriksberg district in Gothenburg. The acquisition amounts to approximately SEK 160 million, with occupancy and payment in Q4 2022.
The acquisition will be reported within the JM Residential Sweden business segment in Q4 2022.
The property has a detailed plan that has gained final approval and is judged to allow the development of approximately 130 residential units as well as commercial premises on the bottom floor. Due to the development work in connection with the property, production is expected to start in 2026.
“We look forward to continuing to develop residential units in Eriksberg, a district JM has been helping shape for more than twenty years. Eriksberg is today a well-established and popular district among residents and visitors, and we believe that its attractiveness will increase further with the development that is ongoing within Eriksberg and Lindholmen, Campus Lundby and the major industrial establishments on western Hisingen,” says Henrik Orrsjö, regional manager of JM Residential Sweden, West Region.
For additional information, please contact:
Henrik Orrsjö, Regional Manager JM Residential Sweden, West Region, +46 (0)73 432 52 68
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 15 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.