Reorganization of JM Property Development (SE)

JM is reorganizing JM Property Development, the business unit within JM that develops residential and commercial properties in greater metropolitan Stockholm.

"The reorganization is in line with JM's strategic focus on housing development in which the project development of commercial properties will be limited and primarily support housing development," says JM's president and CEO Johan Skoglund.

As of July 1, 2005 the business will be split up and placed under JM's other operations. The parts of JM Property Development which includes project development, leasing and project management, comprises a region while technical management is coordinated with business unit JM Residential Stockholm.

The reorganization, which affects approximately 100 persons, will not lead to any redundancy.

The external reporting is unchanged with the exception of marginal net sales for technical management which is transferred to JM Residential Stockholm.

Source: JM

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