Marienholm, considered one of the most significant developments in Läänemaa in recent decades, has received a strong market response, with 80% of the homes in the first phase already sold. Interest has remained high through the autumn, giving the developer confidence to begin designing the second phase of the project.

“While it was clear in the summer that seaside homes attract strong interest, the same level of demand has continued throughout the autumn months. This confirms that Marienholm’s unique environment appeals to homebuyers in the long term, not just seasonally,” said Maido Lüiste, Partner and Member of the Management Board at Scandium Kinnisvara. “We have now begun designing the next phase.”

In the first phase, five buildings with a total of 50 apartments were completed on the Marienholm peninsula. The apartments are known for their expansive sea views and well-considered architectural solutions, located directly on the waterfront. Buyers are predominantly from the capital region, valuing Haapsalu’s calm and nature-oriented living environment.

Marina Development at the Tip of the Peninsula Led by Viktor Siilats
The Marienholm development will also gain a significant addition at the tip of the peninsula, where a new yacht marina is planned. The marina property and the adjacent historic granary building were acquired in the spring by renowned entrepreneur and maritime developer Viktor Siilats, who also owns Grand Holm Marina and Veskiviigi Marina in Haapsalu. Initial marina improvement works began this summer, including the installation of buoys for mooring larger sailing yachts.

Läänemaa’s Largest Development of the century
Marienholm is one of the largest real estate developments in Läänemaa in recent decades. The peninsula will be developed in multiple phases into a comprehensive living environment, including a public park area, a SPA hotel, a marina, and a restaurant.
“We see that Haapsalu has once again become a rediscovered destination for many. Here, where the sea, history, and contemporary architecture meet, people wish to create either a second home or a permanent residence. In the spring, we will begin upgrading the public park area right next to the first phase, after which we will proceed with the construction of the second phase,” Lüiste added.

The design of the second phase has begun. Construction of the new buildings is planned for next year, with completion scheduled for spring 2027.
www.marienholm.com

The article was published on 03.10.2025 on Kinnisvarauudised.ee