JM signs agreement on acquisition of building rights for residential development in Høn-Landås, Asker

JM has signed an agreement for the acquisition of building rights for the development of approximately 350 residential units in Høn in Asker, just outside Oslo. The agreement is conditional on a legally binding detailed plan and amounts to approximately SEK 460m.

Payment of approximately SEK 20m is paid in connection with the conclusion of the agreement. Thereafter, 50 percent of the purchase price is paid at the time of the decided detailed plan and the remaining 50 percent no later than 36 months after the detailed plan has gained legal force. The transaction will be reported within the business segment JM Norway.

The area has developed infrastructure and is dedicated by Asker municipality to the development of housing.

– The acquisition fits nicely into JM's development strategy and will make a welcome contribution to the housing supply in the Oslo region, 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.