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JM acquires Property in Järfälla, Stockholm

Press release 8/19/2011 2:00 PM

JM has acquired centrally located property in Jakobsberg, Järfälla Municipality. The property is currently in the planning process for about 600 residential units in Järfälla. The seller is Kefren Properties and the purchase price is SEK 80m. The company will pay for and take possession of the property on August 19.

Small office and storage buildings that will be demolished currently stand on the approximately 53,000 m2 property.

The area, which currently is currently zoned industrial, is part of the municipality's plan for the town center and will be converted into a large new centrally located residential area for more than 1,000 residential units. The local plan is expected to gain legal force in late 2012. Construction of the residential units is planned to begin in 2013.

JM is one of the Nordic region’s leading developers of housing and residential areas. Operations focus on new production of homes in attractive locations, with the main focus on expanding metropolitan areas and university towns in Sweden, Norway, Denmark, Finland and Belgium. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM seeks to promote long-term quality and environmental considerations in all its operations. Our annual sales total approximately SEK 10 billion and the company has about 2,200 employees. JM AB is a public limited company listed on NASDAQ OMX Stockholm, Mid Cap segment.

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 the main focus on expanding metropolitan areas and university towns in Sweden, Norway, Denmark, Finland and Belgium. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM shall promote long-term quality and environmental management in all its operations. Our annual sales total approximately SEK 10 billion and the company has about 2,200 employees. JM AB is a public limited company listed on the NASDAQ OMX Stockholm, Mid Cap segment.