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Source of Fate Launches AED 2.6 Billion Miraggio Project
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SOURCE OF FATE LAUNCHES AED 2.6 BILLION LUXURY WATERFRONT
DEVELOPMENT ‘MIRAGGIO’ ON AL MARJAN ISLAND

Published 1 month ago on October 2, 2025
By Integrator Web-Editor

Source of Fate, a high-end luxury real estate developer in the UAE, under the Wheel of Fate Group, has
unveiled ‘Miraggio,’ an AED 2.6 billion luxurious waterfront residential project on the central islet of Al
Marjan Island, Ras Al Khaimah.

The new development signals a new phase in the Emirate’s transformation into a premier global
destination for real estate and investment, with Ras Al Khaimah’s real estate market expanding at a
CAGR of 10.05 per cent to 2030. It is strategically located beside Wynn Al Marjan Island and provides
unparalleled 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.

Andrew Cummings, Head of Residential Agency at Savills said: “We are proud to be a part of this
exceptional residential development. 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. With a focus on
excellence and trust, we look forward to driving its sales success.”
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