Market takeaway
Read the headline with transaction context
Market stories are more useful when checked against recent transaction volume, price movement and community-level evidence.
Source of Fate (SOF) has officially broken ground on Miraggio, a landmark luxury waterfront project on Al Marjan Island, reinforcing Ras Al Khaimah’s position as a leading destination for premium residential living.
Key Highlights:
- SOF launches construction of Miraggio, a flagship luxury waterfront development on Al Marjan Island
- Total project value of AED 2.6 billion ($707 million)
- Development features 810 residential units, including studios and one- to three-bedroom apartments
- Project reached 50% off-plan bookings prior to construction, reflecting strong market confidence
- Sales have already exceeded AED 1 billion, highlighting sustained demand for waterfront homes
- Design milestones successfully completed, including Concept Design approval and Schematic & Preliminary Design
- Master-planned to support wellbeing, balance, and connection with nature
- Sustainability features include solar-ready infrastructure, greywater irrigation, and central water filtration systems
- Al Marjan Island continues to lead Ras Al Khaimah’s real estate growth with strong year-on-year value appreciation
- Project supported by leading consultants, including VX Studio, HQS Cost Management, and NEXT Engineering Consultant
- Construction aligned with UAE regulations and international building standards, ensuring quality and innovation
From reading to deciding
Turn this into a Dubai investment shortlist
Use real market data, area intelligence, and a guided journey to move from this article to a focused decision.