JM acquiring land for residential property at Gamlestadens fabriker, Gothenburg

JM has signed an agreement with Platzer to acquire land for 280 building rights.
Production start-up is planned for the end of 2018. The deal is worth
approximately SEK 150 million. Occupancy and payment are expected to be
completed by Q1 2018.
The area is centrally located at the Olskroken 18:7 property, more commonly
known as Gamlestadens fabriker. The area is deemed to have the potential for 280
residential units and space for shops, retail and restaurants on the ground
floor. The 60,000 square meter area currently houses approximately 62,000 square
meters of premises. There will be a junction for trolleys and commuter trains in
the immediate vicinity at Gamlestads torg. Together with Platzer Fastigheter AB,
JM will develop Gamlestadens fabriker and create an attractive and sustainable
neighborhood in a centrally located and historical environment. The new local
plan for the area is at the consultation stage. The agreement is conditional
upon the detail plan coming into legal force.

"Together with Platzer, we are looking forward to developing Gamlestadens
fabriker, and see great opportunities to create an attractive and vibrant
neighborhood in this centrally located area with existing buildings and roots
that go back to the growth of industrialism in Gothenburg," says Martin Svahn,
regional manager, JM West Region.
For additional information, please contact:
Martin Svahn, Regional Manager at JM West Region, +46 (0)31 703 58 75
Sepideh Imani, Head of Communication and Analysis, +46 (0)8 782 14 29
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, 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. Annual sales total approximately SEK 15
billion and the company has about 2,300 employees. JM is a public limited
company listed on NASDAQ Stockholm, in the Large Cap segment.