JM acquires development project in Finland (FI)

The municipial executive board of Kervo in Finland has decided to sign an agreement with JM Suomi Oy regarding a land acquisition in Kytömaa, north of Helsinki. The acquisition indicates the start for the company's establishment in Finland in general and in Helsinki in particular.

The municipial executive board of Kervo has decided to sell about 14 000 m² in Kytömaa to JM Suomi Oy. JM plans to develop a residential area for about 30 small houses. The customers will primarily be families with children. The homes will be ready for occupation during fall 2007.

The exact architecture of the houses will be based on the market analysis made by JM. Previous analysis shows that larger living space and higher quality is the most important reasons for moving for the Finns.

The residential area in Kytömaa neighbours a large forest- and recreational area. Going by train Kytömaa is situated about 20-25 minutes from Helsinki.

"I am delighted that we now can go through with our first acquisition in Finland," says Johan Skoglund, CEO. "This is the start of a long and serious venture for JM in Finland; a huge interest in new houses and apartments combined with our focus on quality production in attractive locations proves we have a natural position on the Finnish market.

Source: JM

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