The detailed plan is expected to allow the development of around 400 residential units and potentially a preschool. This acquisition gives JM access to an attractive development area in Emaus, Västerås. The acquisition will be reported within the JM Residential Sweden business segment, East Region, in Q2 2021.
“The property has an attractive location close to services and public transportation and walking distance to the city center. As a long-term housing developer in Västerås, JM is pleased to continue the development of this interesting area,” says Per Johansson, regional manager of JM East Region.
“We continue to realise the attractive development rights potential in our property portfolio and are pleased that JM can now take over work developing this exciting area. Kungsleden is currently preparing more than 280,000 square meters of residential building rights that we intend to divest as these approach completion,” says Ylva Sarby Westman, Deputy CEO and CFO of Kungsleden.