A Dhs 2.6 billion waterfront residential project named Miraggio has been launched on the central islet of Al Marjan Island in Ras Al Khaimah. The development comes from Source of Fate, a luxury real estate developer under the Wheel of Fate Group, and signals growing investor interest in the emirate’s expanding property market.
Prime island location
Miraggio is located next to the upcoming Wynn Al Marjan Island resort and offers direct connectivity to Ras Al Khaimah City Centre, Ras Al Khaimah International Airport, and Dubai. The project features 810 residential units, including studios and 1–3-bedroom apartments, ranging from 420 to 3,026 sq. ft. All units offer open-plan layouts, fully fitted kitchens, and sea views through floor-to-ceiling windows.
Designed for luxury living
The development integrates smart, energy-efficient technologies and includes a retail podium, infinity pool, gym, wellness centre, and private beach lounges.
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.”
Savills named sales partner
To reach a wider investor base, Source of Fate has partnered with Savills as the exclusive sales agent for the project.
Andrew Cummings, Head of Residential Agency at Savills, said: “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.”
Ras Al Khaimah’s real estate sector is forecast to grow at a compound annual growth rate of 10.05% through 2030. The launch of large-scale developments like Miraggio is seen as part of the emirate’s strategy to attract both end-users and international investors, reinforcing its position as a rising luxury destination in the UAE.
tanvir@dubainewsweek.com
