Source of Fate Launches $708M Miraggio Waterfront Project on Al Marjan Island, RAK

Saturday, 4 October 2025

Source of Fate Properties, part of the Wheel of Fate Group, has launched Miraggio, a luxury AED 2.6 billion ($708M) waterfront residential project on Al Marjan Island, Ras Al Khaimah. Strategically located near Wynn Al Marjan Island, the development offers connectivity to Ras Al Khaimah City Centre, the airport, and Dubai, combining premium living, modern amenities, and smart technologies.

Key Highlights:

Luxury Residences: 810 units including studios, 1-, 2-, and 3-bedroom apartments ranging from 420 to 3,026 sq. ft.
Modern Design: Open-plan layouts, fitted kitchens, floor-to-ceiling windows, and breathtaking Arabian Gulf views.
Smart & Sustainable: Incorporates energy-efficient smart technologies for modern living.
Amenities & Lifestyle: Infinity pool, gym, wellness centre, recreational spaces, private beach lounges, and retail podium.
Prime Location: Central islet of Al Marjan Island, near Wynn Resort and well-connected to city hubs.
Global Sales Partnership: Savills appointed as sales partner to attract local and international investors.
High Investment Potential: Strong rental yields, long-term value appreciation, and a growing tourism-friendly environment.
Developer Track Record: Source of Fate known for timely delivery, quality craftsmanship, and innovative designs.