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JM acquiring property in Trondheim, Norway

Press release 3/26/2019 8:00 AM

JM is acquiring centrally located property in the eastern part of Trondheim, Norway. The property’s local planning has gained final approval for approximately 170 apartments.

The deal is worth SEK 90m and will be reported in Q1 2019 under the JM International business segment. Payment will be made in Q2. The property is centrally located at Brundalen/Charlottenlund in the eastern part of Trondheim, which is part of a larger development area called Granås Öst. A total of approximately 800 residential units will be built. The property has access to good public transit, and there are schools nearby.

“The acquisition gives us a good foothold in Trondheim, and sales start-up for JM’s project at Granås Öst, Strindalia is being planned for this summer. We are really looking forward to getting started on our first projects. This will also be Trondheim’s first residential units available on the market with the Swan Ecolabel,” says Thomas Börnich, regional manager of JM Norway West 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 08:00 CET on 2019-03-26.

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.