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JM acquiring building rights in Södertälje, Stockholm

Press release 6/24/2020 8:00 AM

JM has signed an agreement with Södertälje Municipality to acquire the Karlevik 4:1 et al property in Södertälje, Stockholm. The property’s detailed plan has gained final approval, and the acquisition enables development of approximately 450 residential units.

Occupancy will take place in Q2 2020, and payment in Q3 2020. The deal is worth approximately SEK 137m and will be reported in the balance sheet in the JM Residential Stockholm business segment in Q2 2020.

“We are pleased to take part in the continued development of Igelsta Strand. The neighborhood is in a good location at Östertälje Station, close to public transport and with a view of Södertälje Canal, which gives us the possibility of developing very attractive residential units,” says Elin Blixt, Regional Manager Stockholm South Region.

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 2,500 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.