The acquisition is part of the property Stiernhielm 7, which is centrally located in Mölndal next to the Safjället nature reserve and close to downtown Gothenburg. JM acquired the neighboring property Stiernhielm 6 in 2013, which together with the now acquired building rights and final approval for the local planning enables the development of a total of 225 residential units in apartment buildings. The acquisition will be reported within the JM Residential Sweden business segment in Q4 2021.

“We are looking forward to continuing to take part in the development of Mölndal’s central areas. Through the acquisition, we are strengthening JM’s position as one of the largest housing developers in the City of Mölndal,” says Henrik Orrsjö, regional manager, JM West Region.

The first phase of the project is expected to enter production in 2022.