Staff Report
Dubai, UAE
Source of Fate, a high-end real estate developer within the multinational Wheel of Fate Group, has unveiled Miraggio, a Dh2.6 billion luxurious waterfront residential project on the central islet of Al Marjan Island, Ras Al Khaimah.
Miraggio features 810 units, including studios and one- to three-bedroom apartments, ranging from 420 to 3,026 square feet. The units offer 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.
Miraggio is further elevated by a retail podium and a suite of resort-style amenities, including an infinity pool, a gym and wellness centre, recreational areas, and private beach lounges.
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.”
The new development signals a new phase in the Emirate’s transformation into a global destination for real estate and investment, with Ras Al Khaimah’s real estate market expanding at a compound annual growth rate (CAGR) of 10.05 percent to 2030, according to Mordor Intelligence. 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.
Ends
Also read: RAK Properties unveils Phase II of Mirasol on Mina
