Haapsalu's Unique Peninsula Development Marienholm Receives Building Permit. Construction Planned to Begin This Summer.

The new Marienholm residential district coming to the left bank of Suure Viik on the shore of Haapsalu Sea has received a building permit for the first construction phase. Developer Scandium Kinnisvara plans to begin construction of the first 50 apartments this summer.

The first phase of the Marienholm residential district includes five low-rise apartment buildings with a vacation-style architecture, housing a total of 50 exclusive apartments with sea views ranging in size from 25-100m2. The buildings will be elevated with the first floor, so the residential floors begin at the height of a conventional second floor. The apartments, which, due to the peninsula's elongated shape, will be located only 20-30m from the sea, will feature large glazed balconies, spacious corner windows with sea views, picturesque roof terraces, and living rooms spanning two floors.

Maido Lüiste, CEO of Scandium Kinnisvara: "The Marienholm development is a very close-to-heart project for us, for which we have engaged Estonia's best partners in the field of architecture. We believe that the development in its entirety will have a positive impact on the regional development of Läänemaa, bringing new opportunities to Haapsalu for quality homes, recreational spaces, and once completed, it will be an attractive destination for new visitors."

"We have also received very positive feedback from outside the region – many Estonians have long dreamed of a vacation home in beautiful Haapsalu. Now this opportunity will soon be available, and based on the number of reservations, we can see that people's interest in Haapsalu is very high," said Lüiste.

Construction of the apartment buildings in the first phase of Marienholm is planned to begin this summer.

Erik Külasalu, Scandium's Marienholm project manager: "With the building permit in hand, we are on track with the project as planned. The construction tender is currently underway and we are eager to begin construction, intending to do so as soon as we have identified the best offer and concluded the contract. We are planning for the first buildings to be completed in the fall of next year."

In February, Scandium Kinnisvara also involved several well-known Estonian investors in the Marienholm project. Among others involved in the project are, for example, investment advocates Marko Oolo and Kristjan Liivamägi.

For more information about the Marienholm residential district and vision: www.marienholm.com