Page 8 - Source of Fate PR Report - October 2025

Press Release

Source of Fate launches AED 2.6 billion luxury waterfront

development ‘Miraggio’ on Al Marjan Island

UAE, October 01, 2025: 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