Marienholm is the largest private investment in Läänemaa in the last century. The former industrial peninsula has undergone a complete transformation, and the long-closed area is now open for everyone to explore. The construction of the first phase – five buildings with 50 apartments – has progressed at a solid pace under the main contractor Mitt&Perlebach, and by May 2025, both the buildings and the apartments will be ready.
Maido Lüiste, CEO of Scandium Kinnisvara:
“The Marienholm project has been a bold and large-scale undertaking. Now that the buildings are nearing completion, we can once again feel how special this area truly is – a place people want to be. By the time of completion, nearly 30 of the 50 apartments have been sold, and interest in Marienholm is strong. Standing here on the shore and enjoying the views from the apartments, it’s easy to forget you’re in Estonia. The feeling is truly powerful – and instead of a long-haul flight, it’s only an hour’s drive from the capital.”
The Marienholm development is located on a peninsula along the shore of Suur Viik, surrounded by a 2.2-kilometer coastline. A new spa hotel is planned at the entrance of the peninsula, a public park area in the middle, and a marina and restaurant at the tip.
The development is led by Scandium Kinnisvara, with architecture by 3+1 Architects, interior design by KAMP Bureau, and landscaping by Tajuruum. The vision was developed by the placemaking agency What If. Among the co-investors in Marienholm are several well-known Estonian investors, including investment advocates Marko Oolo and Kristjan Liivamägi.