JM acquiring 120 building rights at Mörby Centrum, Stockholm

The property’s detailed plan has gained final approval for 120 new residential units at Mörby Centrum in Danderyd Municipality, which is located just north of Stockholm. The purchase price is SEK 220 m, with occupancy and payment planned for December 2016. The transaction will be reported in Q4 2016 in the JM Residential Stockholm business segment.Development of Mörby Centrum is in full swing. The current shopping center is undergoing major renovation and addition work, and will almost double in size by 2020 with 130 stores. Two new office buildings totaling 20,000 square meters will also