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JM acquiring property in Drammen, Norway

Press release 3/20/2019 9:00 AM

JM is acquiring a centrally located property in Gulskogen, Drammen, outside of Oslo. The property’s local planning has gained final approval for 230 apartments.

The deal is worth SEK 180m and will be reported in Q1 2019 under the JM International business segment. Payment will be made in Q3 2019. The acquired property is centrally located in Gulskogen, Drammen, close to both Gulskogen shopping center, schools and the bus and train station. Sales are planned to begin in the spring of 2020.

“The property is nicely situated in Gulskogen and is within walking distance of the shopping center and public transit. The train station is also being expanded to become a new end station for the airport train Flytoget, which will be a boost for the new residential units. This is a strategic acquisition and forms a good foundation for several years of sales and production in Drammen,” says Svein Sundby, Regional Manager of JM Norway South Region.

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.

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 09:00 CET on 2019-03-20.

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.