Scandium Kinnisvara has completed the first stage of the Marienholm development in Haapsalu – the largest real estate investment in Lääne County in the past century. This unique project, where the entire peninsula is under the management of a single developer, represents an investment of nearly 60 million euros into creating a diverse living environment.
According to Haapsalu’s Mayor, Urmas Sukles, the Marienholm development carries significant meaning. “A new landmark for Haapsalu has been born, and it is important not only for Haapsalu but for the entire Lääne County – it is the region’s largest development since the restoration of the castle and sets a completely new standard of living quality along Estonia’s coastline,” Sukles noted.
Marienholm is located on a unique peninsula beside Suur Viik Bay, surrounded by water on 270 degrees, with a total shoreline of 2.2 kilometers. “This location offers extraordinary peace and privacy – it feels like you’re in the countryside surrounded by nature, yet you’re still in the city of Haapsalu. Every apartment and every window has a sea view – one of Marienholm’s greatest assets,” said Maido Lüiste, founder and CEO of Scandium Kinnisvara. “Marienholm is our crown jewel. Launching a project like this in Haapsalu takes both courage and vision, which is rare on today’s real estate market,” added Kalle Aron, partner and board member of Scandium Kinnisvara.
“Our confidence is backed by the great interest from buyers – 32 out of the 50 homes in the first stage have already been sold. There is also great excitement around our future plans for the peninsula,” Aron continued.
To date, around 25% of the living environment has been completed, combining nature, architecture, and modern urban space. In the future, a spa hotel will be built at the entrance of the peninsula, a public park in the middle, and at the tip a marina and home-restaurant developed by Viktor Siilats. In addition to residences, the peninsula also features five tiny villas, which have hosted nearly 2,600 guests from 38 countries over two summers.
According to the developer, the average homebuyer in Marienholm is 55 years old and values a peaceful, high-quality living environment. A completely new city street has been created – an infrastructure investment that enhances both the value and quality of the development. The first residential storeys have been built at a height of at least 5 meters to provide extra protection from the elements. All parking has been integrated into the buildings to leave more space for people and nature.
Residents are also offered glass-veranda summer rooms, extending the use of balconies and increasing the living space. Most of the exclusive apartments, including the highest-priced units, have already been sold, but several unique townhouses are still available.
