The JM subsidiary in Belgium, JM Construction, has signed an agreement with Doyen Auto regarding acquisition of land in the Anderlecht city district in Brussels, Belgium. The agreement allows for a possible development of 130 attractive apartments on a former centrally located industrial land.
The purchase is worth SEK 40 million (approx. €4 mln). Payment and entry date will be in October.
"This is an exciting project in one of the more expansive areas in Brussels," comments Göran Sjöborg, Managing Director, JM Construction. "By this acquisition JM strengthens its position in the Brussels region."
JM has already entered into several agreements regarding land in Namur, the capital of Wallonia, giving conditions to develop 800 housing units.
Design is already in progress and JM estimate construction works to start during the second half of 2008.