JM acquiring development property for 660 residential units in Oslo

JM is acquiring development property where the company can develop around 660 residential units in Groruddalen in northeast Oslo. The purchase price is SEK 187m. The seller is Karihaugveien 22 Holding AS, and transfer and payment are expected during Q3 2017. The transaction will be reported within the JM International business segment; the acquisition is on the condition that the local plan for housing gains final approval.Approximately 660 residential units, a grocery store and a preschool are being planned in the residential project. Around 400 of the residential units will be freehold