JM’s subsidiary AB Borätt acquiring building rights for residential development in Sollentuna

AB Borätt has acquired building rights for the development of approximately 220 residential units located in Sollentuna just north of Stockholm. The acquisition amounts to approximately SEK 150m including a paid development contribution. Occupancy and first payment will take place in the first quarter of 2024. Final payment will take place in the second quarter of 2026.

The acquisition will be reported within the JM Residential Stockholm business segment in the first quarter of 2024.

The property has a detailed plan that has gained legal force and is judged to allow the development of approximately 220 Swan Ecolabel residential units, of which 51 are senior homes within JM's subsidiary Seniorgården AB. Housing start of the first phase, which is Ture Torn, is expected to take place during the first quarter of 2024.

– We look forward to continuing to work together with Sollentuna municipality and developing this centrally located area. Ture Torn will be an architecturally interesting landmark and Sollentuna's tallest building, where the homes will contribute to further strengthening the local area and its values such as proximity to water, green areas and good communications, says Christina Lamminen, CEO at AB Borätt och Seniorgården AB.

For additional information, please contact:
Christina Lamminen, President AB Borätt, +46 (0)8 782 82 55
Katarina Rimmerfeldt, Head of Communications JM Group, +46 (0)73 432 61 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 14 billion and the company has about 2,200 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.