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JM signs conditional contract to acquire property for residential development in Röa, Oslo

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JM has signed a conditional contract to acquire a centrally located property for residential development in Röa, Oslo. The acquisition price will be determined and paid in conjunction with the local plan gaining final approval. This is expected to take place in 2023 at the earliest, at which time the transaction will be reported within the JM International business segment. The acquisition will allow JM to develop 300 residential units.

“The property has a great location in Röa. It is within walking distance of service, the subway station and buses, and the Oslomarka open-air recreation area is nearby. The property fits nicely in JM Oslo’s building rights portfolio, and the area has a great deal of potential as the last remaining industrial property in an established residential area,” says Hilde Vatne, regional manager, JM Oslo Region, JM Norway.

JM is certifying all new residential units in Sweden, Norway and Finland in accordance with the Swan Ecolabel. JM is thus the first Nordic construction company to certify its entire production of residential units in accordance with the Swan Ecolabel.

For additional information, please contact:
Martin Asp, Business Unit Manager JM Norway, +46 (0)8 782 89 85
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 08:00 CET on 2019-05-16.

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.