JM selling property in Tønsberg

JM has signed an agreement for the sale of a property located in Tønsberg, in Vestfold county. The transaction amounts to approximately SEK 47m.

The property being sold consists of undeveloped industrial land previously assessed to have potential for residential development corresponding to approximately 11,000 square meters of living space. The sales price amounts to approximately SEK 47m, which provides a profit from property sales of approximately SEK 7m. The transaction will be reported in the third quarter of 2024 within the business segment JM Norway. Partial payment is received in connection with transfer of legal title at the conclusion of the agreement, and final payment will be received in the fourth quarter of 2024.

– The property is located outside our primary geographic area and the divestment is thus in line with our strategic focus, says Hilde Vatne, Business Unit Manager JM Norway.

For additional information, please contact:
Hilde Vatne, Business Unit Manager JM Norway, +47 922 15 662
Katarina Rimmerfeldt, Head of Communications JM Group, +46 73 432 61 20, press@jm.se

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 13 billion and the company has about 2,100 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.