JM sells residential project in Stockholm

JM has sold a residential project in Stockholm with a total of 45 apartments. The buyer is Stockholmshem and the sales value is SEK 100 million.

The project, known as “Årstadalsskolan 4,” includes 45 apartments (total of 3065 m2). The deal is worth SEK 100 million and will be reported on the income statement over the course of 2010/2011. SEK 11 million will be paid in cash for the land during the second quarter of 2010.