JM acquiring property with completed local plan in Skårer Syd, Oslo
JM has signed an agreement with Stor-Oslo Eiendom to acquire part of the company's property in Skårer Syd in Lørenskog north of Oslo. The transaction is worth approximately SEK 160 million with occupancy and payment planned for October 1, 2015.
The property includes two areas in Skårer, which is a large development area in Lørenskog Municipality with a local plan for approximately 1,200 residential units. Based on the completed local plan, JM will build approximately 340 residential units, grocery store and commercial premises.
"This acquisition suits JM well. We can develop a large residential area over the course of several years and in very familiar surroundings due to our nearby Solheim Terrasse project. The area is located close to the Triaden shopping center. There are good schools and childcare facilities nearby, at the same time that both central Oslo and Gardermoen are easily accessible," says Hilde Vatne, regional manager for Oslo, JM Norway.
The transaction will be reported in Q3 2015 in the JM International business segment.
For additional information, please contact:
Hilde Vatne, Regional Manager Oslo JM Norway, +47 922 15662
Kjell Kvarekvål, Media Contact JM Norway, +47 928 12319
Martin Asp, Head of the JM International Business Unit, +46 (0)8 782 89 85
Sepideh Imani, Head of Communication and Analysis, +46 (0)8 782 14 29
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, 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 15 billion and the company has about 2,300 employees. JM is a public limited company listed on NASDAQ Stockholm, in the Large Cap segment.
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