Dubai, UAE – Source of Fate, a high-end real estate developer under the multinational Wheel of Fate Group, has launched Miraggio, a AED2.6 billion luxury waterfront residential project on the central islet of Al Marjan Island in Ras Al Khaimah. The development is set to redefine premium coastal living in one of the UAE’s fastest-growing investment hubs.
Residences and Lifestyle Offering
Miraggio will deliver 810 residences, including studios and one- to three-bedroom apartments ranging from 420 to 3,026 square feet. Homes feature open-plan layouts, fully fitted kitchens, floor-to-ceiling windows, and expansive sea-facing views of the Arabian Gulf. The project also integrates energy-efficient smart technologies, blending sustainability with modern comfort.
The community includes a retail podium and a range of resort-style amenities such as an infinity pool, gym and wellness centre, private beach lounges, and recreational spaces. Located beside Wynn Al Marjan Island, Miraggio ensures easy access to luxury hospitality and seamless connectivity to Ras Al Khaimah City Centre, Ras Al Khaimah International Airport, and Dubai.
Developer Vision and Global Partnership
Dr. Majid Jack Hsiung, Founder and CEO of Source of Fate Properties, said, “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.”
To position Miraggio among global buyers, Source of Fate has appointed Savills as its exclusive sales partner. 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.”
Market Outlook and Investor Perspective
The launch of Miraggio underscores Ras Al Khaimah’s transformation into a global destination for real estate and tourism investment. According to Mordor Intelligence, the emirate’s property market is expanding at a compound annual growth rate of 10.05 percent through 2030, supported by major developments and the entry of international hospitality brands.
For Indian investors, Miraggio Al Marjan Island Ras Al Khaimah offers an opportunity to diversify beyond Dubai into an emirate where luxury waterfront projects are still at an early growth stage. With proximity to the Wynn Resort and connectivity to Dubai, the development combines lifestyle appeal with strong investment fundamentals. Villas and apartments in Ras Al Khaimah typically deliver competitive rental yields compared to Dubai, while entry prices remain more accessible. This positions Miraggio as an attractive option for Indian buyers seeking both long-term appreciation and consistent income streams.
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