JM acquiring property for residential development in Bergen

JM has acquired building rights for the development of approximately 75 residential units located centrally in Bergen. The acquisition amounts to approximately SEK 82 million, with occupancy in the fourth quarter of 2023 and payment in the first half of 2024.

The acquisition will be reported within the JM Norway business segment in the fourth quarter of 2023.

The property has a detailed plan that has gained final approval and is judged to allow the development of approximately 75 residential units as well as 1,100 square meters of commercial premises. The property is centrally located in the heart of an attractive area in Bergen, with immediate proximity to public transport.

– This acquisition strengthens our presence in Bergen and is part of JM's long-term strategy to grow in the region, says Petter Sunde, regional director JM Norge AS.

For additional information, please contact:
Petter Sunde, regional director JM Norge AS, +47 913 13 767
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 2,200 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.