Page 28 - Source of Fate PR Report - October 2025

Source of Fate launches $708m luxury development on RAK’s Al Marjan Island

Source of Fate launches $708m luxury development on

RAK’s Al Marjan Island

RAS AL KHAIMAH

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Source of Fate, a high-end luxury real estate developer in the UAE under the Wheel of Fate Group, has unveiled Miraggio, an
AED2.6 billion ($708 million) luxurious waterfront residential project on the central islet of Al Marjan Island, Ras Al
Khaimah.

The new development is strategically located beside Wynn Al Marjan Island and provides good connectivity to Ras Al
Khaimah City Centre, Ras Al Khaimah International Airport, and Dubai.

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. The development
integrates energy-efficient smart technologies to combine comfort, style, and sustainable living.

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. The project reflects our ambition to create
high-end innovative developments, while addressing the growing demands of residents living in the Emirate.”

In line with its strategy to reach both local and international investors, Source of Fate has partnered with Savills as the
exclusive sales partner for Miraggio. Their longstanding partnership builds on a proven track record of successful projects
together. The developer will leverage Savills’ global expertise to position the development among discerning buyers
worldwide, further underscoring international confidence in Ras Al Khaimah’s growing property market.

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