JM Construction selling property in Värmdö, Stockholm

JM Construction has signed an agreement to sell the Gustavsberg 1:523 property. The deal is worth SEK 60m.

The property is located in the Ekobacken area of Gustavsberg in Värmdö Municipality, which is about 20 km east of central Stockholm. Occupancy for the buyer will take place in Q2 2019, which is also when payment will be made. The sale’s positive outcome is SEK 34m, and will be reported as gains on the sale of property in Q2 2019 under the JM Construction business segment.

The sale of the property is important in terms of connecting the Ekobacken area with the retail hub at Värmdö Marknad. The local plan allows construction within retail, industry, warehousing and logistics.

“We plan to sell more zoned industrial land in the Ekobacken area up to 2021, and are therefore very positive to the construction being planned for the property we sold,” says Sören Bergström, CEO JM Construction.

For additional information, please contact:
Sören Bergström, CEO JM Construction, +46 (0)8 782 88 84
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 08:01 CEST on 2019-04-26.

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.

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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.