Famous Investors Join Haapsalu's Marienholm Real Estate Project. Sales Pace is Rapid.
Scandium Real Estate involved renowned Estonian investors in their unique development project on the Haapsalu peninsula last week. Buyer interest in the Marienholm residential quarter has been significant. With reservations, 2/3 of the first phase apartments are already covered, and construction is planned to begin in summer.
On the entire left bank of Suur Viik in Haapsalu, which has until now been a closed area, a new living environment is being developed. In addition to low-rise apartment buildings with airy architecture, the area is planned to include harbor piers, a swimming area, recreational spaces, and in the future, an elegant SPA hotel. In the first phase, 50 exclusive sea-view apartments ranging from 25-100m2 will be built. The apartments, which thanks to the peninsula's elongated shape will be located just 20-30m from the sea, will feature large glazed balconies, spacious corner windows with sea views, picturesque roof terraces, and living rooms stretching across two floors.
Maido Lüiste, CEO of Scandium Real Estate: "There has been very strong interest in the Marienholm project. To enable us to move forward with this inspiring project at a good pace, we involved financial partners from private investors last week. The investors in Marienholm became several well-known and successful Estonian entrepreneurs, as well as several investment advocates such as Kristjan Liivamägi and Marko Oolo."
"Involving investors in the project company gives capital investors the opportunity to participate in the success of the development project; for the developer, it provides the ability to move the project forward more quickly to the construction phase," explained Lüiste.
Urmo Kallakas, CFO of Scandium Real Estate: "Scandium has a strong circle of investors with whom cooperation has been mutually beneficial. We are also open in the future to the possibility of involving investors in our projects so that we can progress with capital-intensive projects at a good pace."
In developing the vision for Marienholm's large-scale development, an important partner for Scandium was the WhatIf team led by Juhan Kangilas and Maria Freimann. Today, recognized creative teams such as 3+1 Architects, TajuRuum landscape architects, and KAMP Architects on the interior design side are actively working on the project.
The completion of the first houses on the peninsula is planned for autumn 2024. www.marienholm.com
