New & Off-Plan Projects by Source of Fate Properties
Source of Fate Properties is a private real estate developer founded in 2021. The company has announced a development pipeline worth almost AED 10 billion (USD 2.7 billion). This pipeline covers five projects in the United Arab Emirates. Two are located in Dubai, while three are on Al Marjan Island in Ras Al Khaimah. The developer has stated that all projects are fully funded, thereby reducing the risk often associated with off-plan properties.
Company Snapshot
- Established: 2021
- Pipeline Value: ~AED 10 billion (USD 2.7 billion)
- Total Projects: 5 (2 in Dubai, 3 on Al Marjan Island)
- Sales Record: Sunshine Bay sold out with 240 units
- Focus: Waterfront and coastal residential developments
This profile positions Source of Fate among new, yet ambitious, developers in the UAE market.
Sunshine Bay – Al Marjan Island
Overview
- Location: Al Marjan Island, Ras Al Khaimah
- Total Units: 240
- Unit Types: Studios, 1-bedroom and 2-bedroom apartments
- Starting Price: AED 980,000
- Payment Plan: 60:40 (60% during construction, 40% on handover)
- Handover: Q1 2027
Market Insight
Sunshine Bay sold out during its launch phase. It reflects strong buyer interest in Al Marjan Island. The project’s proximity to the upcoming Wynn Resort, scheduled to open in 2027, adds demand pressure to this micro-market. Average property values in Ras Al Khaimah have been rising, with Al Marjan showing faster absorption due to limited supply.
Miraggio – Al Marjan Island
Overview
- Location: Al Marjan Island, Ras Al Khaimah
- Unit Types: Studios, 1-, 2- and 3-bedroom apartments
- Starting Price: ~AED 1,200,000
- Payment Plan: 55:45 (55% during construction, 45% on handover)
- Handover: Q4 2028
- Features: Waterfront plots, retail podiums, and select apartments with Sea views
Market Insight
Miraggio is larger in scale compared to Sunshine Bay and offers a broader range of unit types. With handover set for 2028, investors have a longer payment horizon. Given the Wynn Resort effect and the current shortage of waterfront units in Ras Al Khaimah, early entry pricing is a significant driver for investors.
Dubai Projects
Source of Fate has confirmed 2 projects in Dubai but has not yet released complete details. Locations are in prime districts with official announcements expected in the upcoming quarters. Investors can monitor for launch updates as these projects will expand the developer’s footprint beyond Al Marjan Island.
Investment Perspective
- Limited Supply of Waterfront Units
- Al Marjan Island has a finite coastline, which restricts the development of new residential plots. This scarcity supports long-term price stability.
- Tourism Growth in Ras Al Khaimah
- The Emirate is positioning itself as a tourism hub with the Wynn Resort acting as a key anchor. Expected tourism inflows are expected to increase demand for holiday homes and short-term rentals.
- Proven Demand
- The sale of Sunshine Bay reflects genuine market interest. Savills' participation demonstrates the confidence of established brokers.
- Funding Assurance
- Unlike some off-plan projects, The Source of Fate has publicly stated that its developments are fully funded. This reduces the default risk associated with the handover.
- Payment Flexibility
- Payment structures of 55:45 and 60:40 make properties accessible to investors and end-users. Such plans align with market averages for prime waterfront projects.
Market Data Insight
- Average residential property price growth in Ras Al Khaimah reached 15% year-on-year in 2023, which is higher than the UAE average.
- Al Marjan Island recorded transaction values crossing AED 2.5 billion in 2023, driven by off-plan sales.
- Off-plan sales in the UAE accounted for over 60% of total property transactions in 2024, underscoring the segment's significant market share.
- Dubai remains the country’s largest real estate market, but Ras Al Khaimah has emerged as a competitive alternative for buyers seeking lower entry prices and access to the coast.
These figures indicate a strong environment for investors entering Source of Fate projects now.
Key Takeaways
- Developer founded in 2021 with AED 10 billion pipeline
- Five projects: two in Dubai, three in Ras Al Khaimah
- Sunshine Bay: 240 units, handover 2027, which is fully sold out
- Miraggio: larger project, handover 2028. It is open for booking
- Strong sell-through supported by Savills distribution
- Al Marjan Island benefits from the Wynn Resort and tourism growth
- Clear payment plans (55:45, 60:40) support investors
- All projects are fully funded, lowering developer risk
Source of Fate Properties offers early entry into projects that combine prime waterfront locations with secure funding and transparent timelines. Buyers and investors can request brochures, review floor plans or schedule consultations to understand current availability.
If you are considering an off-plan property in the UAE, these projects offer a combination of location advantages, strong market fundamentals, and proven demand.
