JM acquiring property in Sköndal, Stockholm

JM has signed an agreement with the Stora Sköndal foundation to acquire land for 157 building rights. The deal is worth SEK 225m. Occupancy and payment will take place in Q4 2017.

The acquired properties, Stockholm Sköndal 1:20 and 1:22, are located in Sköndal close to Drevviken lake in southern Stockholm. The property’s detailed plan has gained final approval for 157 apartments. The acquisition will be reported within the JM Residential Stockholm business segment in Q4 2017.

“We are very happy to be taking possession of the properties from the Stora Sköndal foundation. The area is located close to Drevviken lake, and has a great location for housing. We are really looking forward to developing the area further,” says Erik Ragnerstam, regional manager of JM Stockholm South Region.

For additional information, please contact:
Erik Ragnerstam, Regional Manager, JM Stockholm South Region, +46 (0)8 782 13 48
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 13:00 CET on 2017-12-15.

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 17 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.