JM Construction selling property in Värmdö, Stockholm
JM Construction has signed an agreement to sell the Gustavsberg 1:434 property. The deal is worth SEK 24m.
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 Q3 2019, which is also when payment will be made. The sale’s positive outcome is SEK 12m, and it will be reported as gains on the sale of property in Q3 2019 under the JM Construction business segment.
JM Construction is planning to gradually sell more zoned industrial land in the area up to 2021. The land’s local plan allows construction within retail, industry, warehousing and logistics.
“The sale of the property is one part of efforts to link the Ekobacken area with the retail hub at Värmdö Marknad. It is also very positive that through the deal, JM will help a local sanitation company have a positive impact on the environment by being able to coordinate and streamline operation of its fleet of vehicles. Doing so will significantly reduce carbon dioxide emissions,” says Sören Bergström, president of JM Construction.
For additional information, please contact:
Sören Bergström, President 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 13:00 CET on 2019-05-20.
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 2,600 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.