Marienholm, the seaside residential development in Haapsalu, has received its third major recognition in less than a year. Most recently, the project was named a winner at the international Luxury Lifestyle Awards in the category Best Luxury Urban Regeneration Development in Estonia 2026, recognising outstanding projects that have successfully brought new life to previously unused or underutilised urban areas.

The international recognition follows two earlier awards. At the end of 2025, Marienholm was named Läänemaa’s Most Ambitious Enterprise at the county’s annual business awards, recognising the project’s impact on regional development and the ambition behind one of the largest real estate developments in Haapsalu’s history. In spring 2026, Marienholm also received the Hans Alver Architecture Award, which recognises outstanding architectural solutions in Haapsalu.

Marienholm is being developed on a historic peninsula in Haapsalu that remained closed to the public for decades. The aim of the development has been to transform the former industrial and harbour area into a comprehensive seaside urban environment combining contemporary architecture, public space and a high-quality residential setting. The total investment in the project amounts to approximately €60 million, making it one of the largest private investments in Läänemaa over the past century.

According to Maido Lüiste, Member of the Management Board of Scandium Kinnisvara, the significance of these awards lies above all in the fact that they represent very different perspectives.

“When a single project receives recognition from the business community, architecture professionals and international real estate experts alike, it shows that this is about much more than a successfully sold development. It is recognition of the entire vision – of how to create a place that improves both the urban environment and people’s everyday quality of life,” said Lüiste.

The first phase of Marienholm was completed in 2025 and comprises five residential buildings with a total of 50 apartments. Most of the homes have already found owners. This summer, Scandium will begin construction of the second phase of the development, bringing another building with 25 seaside apartments to the peninsula. The second phase is scheduled for completion in autumn 2027.

Marienholm’s success is also significant in the broader context of Estonia’s real estate sector. In recent years, the greatest attention has largely been focused on major developments in Tallinn and Tartu, but the project realised in Haapsalu demonstrates that developments with high architectural quality and a strong vision can shape the development of an entire region beyond Estonia’s largest urban centres.

Marienholm’s awards:

Luxury Lifestyle Awards 2026 – Best Luxury Urban Regeneration Development
Hans Alver Architecture Award 2026
Läänemaa’s Most Ambitious Enterprise 2025