The seller is Karihaugveien 22 Holding AS, and transfer and payment are expected during Q3 2017.
Approximately 660 residential units, a grocery store and a preschool are being planned in the residential project. Around 400 of the residential units will be freehold units. The remaining residential units will be senior housing and rental units.
The local plan for the area is waiting to be processed by the authorities and is expected to be approved during Q3 2017.
JM Norway has entered agreements with Grunnsteinen AS and Utleiebolig AS on the sale of approximately 260 residential units at a fixed price. JM has high expectations for the residential project and hopes it will promote increased construction of housing in Groruddalen.
“We are very pleased with the agreements, which will enable JM to develop a large residential environment in an attractive growth area in Oslo. The project is completely in line with our vision and strategy to create attractive residential environments in growing cities. We are convinced that the entered agreements will lay the groundwork for good profitability,” says Martin Asp, president of JM Norway.
JM Acquires Development Property in Oslo
Norway — JM acquires a development property where the company can develop around 660 residential units in Groruddalen in northeast Oslo. The purchase price is EUR 21M. <br />
Maria Olsson Äärlahtmaria@nordicpropertynews.com