Page 15 - Source of Fate PR Report - October 2025

Source of Fate, a high-end luxury real estate developer in the UAE, under the Wheel
of Fate Group, has unveiled ‘Miraggio,’ an Dh2.6 billion luxurious waterfront
residential project on the central islet of Al Marjan Island, Ras Al Khaimah.

Miraggio features 810 units, including studios, 1-, 2-, and 3-bedroom apartments,
ranging from 420 to 3,026 sq. ft, offering open-plan layouts, fully fitted kitchens, floor-
to-ceiling windows, and sea-facing Arabian Gulf views.

Dr Majid Jack Hsiung, Founder and CEO of Source of Fate Properties, stated: “We
are pleased to launch Miraggio in Ras Al Khaimah, an Emirate rapidly establishing
itself as a premier destination for luxury living, driven by its natural coastlines,
growing infrastructure, and investor-friendly environment. Miraggio, with its range of
features, including its location near the Wynn Resort, caters to the needs of
individuals seeking an exceptional lifestyle.”

Source of Fate has partnered with Savills as the exclusive sales partner for Miraggio.
Andrew Cummings, Head of Residential Agency at Savills said: “Miraggio provides a
lifestyle ecosystem that international buyers are seeking today. It is strategically
positioned within a rapidly growing tourism and investment hub that offers strong
investment potential, high rental yields, and long-term value appreciation.”

Marjan Island has emerged as one of the UAE’s fastest-growing investment and
lifestyle destinations. In 2024, the emirate welcomed 1.28 million visitors, achieving a
12 per cent increase in tourism revenue, with a vision to triple visitor numbers by
2030. Ras Al Khaimah’s GDP stands at $14 billion, with thriving industries including

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