The Builder of Marienholm's Second Phase Has Been Selected – Grand Ehitus Will Begin Construction in July

The development of Haapsalu's waterfront Marienholm living environment is reaching the next significant milestone – Scandium Real Estate selected Grand Ehitus OÜ as the builder for the second phase, and construction work will begin in July. The new phase will be completed in the summer of 2027 and will bring 25 new waterfront homes and a park area to the Marienholm peninsula. The investment size is 8 million euros. 

According to Maido Lüiste, a board member of Scandium Real Estate, the launch of the second phase confirms that interest in quality waterfront homes remains strong even in today's market conditions. 

„Marienholm's first phase exceeded our expectations. By now, most of the 50 completed apartments have found owners, and only the last display apartments furnished as waterfront homes remain for sale. This gives us confidence to continue developing the entire peninsula in accordance with our original vision," said Lüiste. 

The first phase, completed last summer, included five residential buildings with 50 apartments and has received recognition from both buyers, the city, and industry experts. Marienholm has been recognized with several architecture and real estate industry awards and has become one of Estonia's most distinctive waterfront living environments. 

There has also been great interest in the newly launched second phase. Within just a few weeks after sales began, nearly 25 percent of the new apartments have already been sold or reserved.

„We see that buyers increasingly value a comprehensive living environment where quality architecture, proximity to the sea, and a peaceful rhythm of life form a unified whole. Marienholm offers all of this in a way that is very rarely found in Estonia," added Lüiste. 

The architectural solution for Marienholm's second phase was created by BOA Architects. The new building continues the peninsula's existing quality standards, offering well-thought-out floor plans, spacious terraces, and views of the sea and Haapsalu Bay from every apartment. 

According to Aare Saliste, head of Grand Ehitus OÜ, the company is pleased to participate in the construction of the next phase of one of Estonia's most remarkable waterfront living environments.

„Marienholm is a project with an extraordinary location and vision, where high quality requirements go hand in hand with a strong architectural vision. We are pleased that we can contribute to the completion of this next phase and begin construction on the peninsula within just a few weeks," said Saliste. 

Marienholm's development is located in Haapsalu on a peninsula by Suur Viik, surrounded by sea on 270 degrees and more than 2.2 kilometers of coastline. When the entire development is completed, Marienholm will become approximately a 60 million euro investment in creating a modern waterfront living environment. To date, Marienholm has won the Hans Alver Architecture Award, the international Luxury Awards for best luxury urban space revitalization, and Läänemaa's most ambitious undertaking award for 2025. 

Scandium Real Estate AS is a comprehensive Estonian real estate developer that develops integrated living environments. The company is one of the founding members of Green Tiger. Scandium's current major developments include the comprehensive Marienholm peninsula in Haapsalu, Marat Quarter in Kalamaja, and Bellevue on Pärnu's waterfront.