Source of Fate Unveils $708M Miraggio Waterfront Residences in RAK

Ras Al Khaimah, UAE – October 1, 2025: Source of Fate, the luxury real estate developer under the Wheel of Fate Group, has unveiled Miraggio, a USD 708 million (AED 2.6 billion) high-end waterfront residential project on the central islet of Al Marjan Island, Ras Al Khaimah.

The launch marks a significant milestone in the Emirate’s transformation into a premier global destination for real estate investment. With Ras Al Khaimah’s property market forecast to expand at a CAGR of 10.05 percent through 2030, Miraggio reflects both the growing demand and investor confidence in the region.

Prime Location Beside Wynn Resort

Strategically located next to the highly anticipated Wynn Al Marjan Island, the project offers residents seamless access to Ras Al Khaimah City Centre, Ras Al Khaimah International Airport, and Dubai, making it one of the most connected luxury addresses in the UAE.

Residences with Sea-Facing Views

Miraggio will feature 810 units, including studios and 1-, 2-, and 3-bedroom apartments, ranging from 420 sq. ft. to 3,026 sq. ft. Each residence is designed with open-plan layouts, fully fitted kitchens, floor-to-ceiling windows, and panoramic Arabian Gulf views.

The development also integrates energy-efficient smart technologies, balancing modern comfort with sustainable living principles.

Developer Vision

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.”

Global Sales Partnership with Savills

In a move to capture both local and international buyers, Source of Fate has appointed Savills as the exclusive sales partner for Miraggio. This partnership builds on a track record of successful collaborations between the two companies.

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.”

Resort-Style Living

The project is elevated by a retail podium and a suite of resort-style amenities, including:

• Infinity pool
• Fully equipped gym and wellness centre
• Recreational areas
• Private beach lounges

These offerings are designed to complement the luxury lifestyle experience while fostering community living.

Setting a Benchmark for Luxury on Al Marjan Island

With a proven track record of on-time delivery, exceptional quality, and meticulous craftsmanship, Source of Fate Properties continues to distinguish itself in the UAE’s competitive luxury real estate market.

Miraggio’s prime waterfront location, sophisticated design, and comprehensive amenities position it as a future landmark on Al Marjan Island and a new benchmark for luxury living in Ras Al Khaimah.