JM acquiring property for residential development in Hertonäs, Helsinki

JM is acquiring a well-situated industrial property in Hertonäs, Helsinki. Occupancy and payment will take place in Q3 2019. The acquisition is worth approximately SEK 360m. The property’s local planning has gained final approval, and the acquisition enables development of 1,000 residential units.

The transaction will be reported in Q3 2019 under the JM International business segment. The acquisition gives JM an overall development area comprising 1,000 residential units in Hertonäs.

“The property has a nice location in Hertonäs, and is within walking distance of service, trains and buses. This is one of the first major strategic areas that JM Finland has produced a local plan for. We are very pleased that the local plan has gained final approval so that we can realize our ambition to create a vibrant neighborhood. The initial sales start-up is planned for the autumn,” says Markus Heino, president of JM Finland.

JM is certifying all new residential units in Sweden, Norway and Finland in accordance with the Swan Ecolabel. JM is thus the first Nordic construction company to certify its entire production of residential units in accordance with the Swan Ecolabel.

For additional information, please contact:
Markus Heino, President JM Finland, +358 405 00 1263
Martin Asp, Business Unit Manager JM International, +46 (0)8 782 89 85
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 14:00 CET on 2019-07-10.

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:

About Us

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 project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM seeks to promote long-term quality and environmental considerations in all its operations. Annual sales total approximately SEK 17 billion and the company has about 2,500 employees. JM is a public limited company listed on NASDAQ OMX Stockholm, in the Large Cap segment.