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2016-11-17

JM: JM acquires development property in Oslo

JM has acquired the development property Vollebekkveien 2A in
north-eastern Oslo from Stiansen Eiendom AS. The purchase sum amounts
to approximately SEK 170 million with occupancy and payment planned
for November 2016. The acquisition is expected to enable development
of 175 residential units. The transaction will be reported in Q4 2016
in the JM International business segment.

The property is situated next to Vollebekkveien 2B which JM acquired
in 2015. The two acquisitions entail an expected development of
260-290 residential units in apartment buildings. Both properties are
a part of the municipality of Oslo's planning program for Vollebekk
and comprise the construction of residential units. Detailed
development plan work has commenced and JM is planning to start
production during the second half of 2018.

The Vollebekk area is being developed and JM's properties are located
right next to Vollebekk's subway station. A journey to Oslo central
station takes 13 minutes with the subway. The municipality of Oslo is
building a school north of the property which will be completed in
2017.

"The municipality has defined Vollebekk as a hub where development of
new residential units contributes positively to the residential
portfolio in Oslo. This establishment is a part of JM's long-term
growth strategy," says Martin Asp, President JM Norway.

For additional information, please contact:
Martin Asp, President JM Norway, +47 920 30 934
Hilde Vatne, Regional Manager Oslo, JM Norway +47 922 15 662
Sepideh Imani, Head of Communication and Analysis, +46 (0)8 782 14 29

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 16:00 CET on 2016-11-17.

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 15 billion and the company has about 2,400
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.

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http://news.cision.com/jm/r/jm-acquires-development-property-in-oslo,c21...
http://mb.cision.com/Main/1261/2125046/591515.pdf

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