On Friday, July 12, Scandium Kinnisvara and Mitt & Perlebach held a topping-out ceremony for the Marienholm seaside development in Haapsalu. This project represents the largest private investment in Haapsalu’s history. Five buildings with 50 apartments have been completed, including a record eight homes in Haapsalu, each costing over half a million euros. Prices for two-room apartments start at 180,000 euros.
In the coming years, the Marienholm development will create a comprehensive new living environment across the peninsula. 150 new seaside homes are planned, along with boat docks, a public park area, a restaurant, a marina, and a new top-tier spa hotel.
The apartments in the Marienholm development will be exclusive by Estonian standards, situated just a few dozen meters from the sea and offering panoramic sea views from every window. Prices for the smaller apartments start at 180,000 euros.
Maido Lüiste, CEO of Scandium Kinnisvara, commented: “We are pleased to see that our grand vision has reached its first visible milestone – the buildings have reached their full height. It is clear that a visionary developer, a strong builder, and a solution-oriented city government are the foundation for the successful implementation of outstanding projects.”
Kristjan Mitt, a board member of Mitt & Perlebach, added: “The construction process is always full of challenges, as it has been here in Haapsalu, where such large projects are rarely undertaken. Finding subcontractors has been somewhat challenging, but as experienced builders, we have overcome these difficulties and maintained a good pace of construction. Marienholm, located directly on the seashore, is undoubtedly a special project, and we are on track to complete it by next spring.”
The Marienholm development is located on a peninsula on the shore of Suur Viik, surrounded by 2.2 kilometres of coastline. The project was designed by 3+1 Architects under the leadership of Scandium Kinnisvara, with interior design by KAMP Studio and landscape architecture by Tajuruum. The vision was developed by What If. Among the co-investors in Marienholm are several well-known Estonian investors, including investment advocates Jaak Roosaare, Marko Oolo, and Kristjan Liivamägi. The first seaside apartments are expected to be completed in the spring of 2025, and half of the apartments in the first phase have already been sold.
For more information about the Marienholm residential quarter, visit: www.marienholm.com
