Miraggio

810 apartments across fifteen floors of curved balconies, facing the sunset

Miraggio brings together 810 units in a single building, placing it among the largest residential volumes currently under way on Al Marjan Island. The scheme is developed by Source of Fate Properties, an Emirati developer founded in 2021, and marketed by Savills. The building has a ground floor given over to retail, with a large lobby, followed by fifteen residential levels. Its facade reads as a series of rounded terraces stepping down toward the Arabian Gulf. Handover is set for 30 December 2028, on a freehold basis, as with all developments on the archipelago open to foreign buyers.

Terraces stepping down toward the water

The architectural approach comes down to one idea: the curve. The balconies are not stacked directly above one another but staggered, creating a tiered profile with deeper terraces the further down you go. This design earned the project several awards in 2025, including Best Waterfront Development at the Luxury Lifestyle Awards and a Gold at the Muse Design Awards in the apartments category. Inside, the brochure promises floor to ceiling windows, natural stone and wood in a light palette. The main views face west, toward the sea and the sunset.

From 39 sqm studios to 170 sqm three bedrooms

The unit mix covers four layouts. Studios start at around 420 square feet, roughly 39 sqm, a size geared toward short term rentals. One bedrooms start at around 75 sqm and two bedrooms at around 121 sqm, generous sizes for this segment. Three bedrooms reach around 170 sqm and target families or second home owners looking for more space. With 810 units, the share of smaller layouts will weigh heavily on the building's overall balance, and this is worth checking closely when picking a unit, since rental competition between identical studios will be direct.

Padel, yoga and an infinity pool on the site plan

The amenities plan lists around twenty spaces spread across the lower levels and gardens. The infinity pool, facing the open sea, sits alongside a pool bar and a separate children's pool. A padel court and a jogging track cover sports activity, alongside a gym with a terrace, a CrossFit zone and a yoga studio. On the landscaping side, water features include sunken seating built into the ground, surrounded by tropical gardens, a family lawn and an activity lawn. A landscaped buffer zone separates the development from the main road, where the drop off point and access to the ground floor shops are located.

Source of Fate, a four year old developer

Source of Fate Properties states a development portfolio worth 10 billion dirhams across the UAE, spanning waterfront apartments and villa communities. The list of awards is substantial, but some of the 2024 accolades relate to conceptual projects or architectural renderings rather than completed work. Founded in 2021, the company does not yet have a delivery track record comparable to Emaar or Aldar, both present on the same island. For an investor, this means paying close attention to the escrow terms and the construction timeline. Savills handling sales lends distribution credibility, not a guarantee of execution.

On the central island, handover one year after Wynn

Miraggio sits on the central island of Al Marjan Island. The brochure cites 15 minutes on foot or 5 minutes by car to the Wynn Resort, due to open in 2027. Ras Al Khaimah's city centre is 25 minutes away, the international airport around thirty minutes, and Dubai roughly an hour. Al Hamra Mall, Al Hamra golf course and the Royal Yacht Club round out the immediate surroundings. The emirate welcomed 1.28 million visitors in 2024, up 12%, and is planning more than 7,300 additional hotel rooms by 2027. Residents will therefore be moving into a market already reshaped by the casino, with a hotel and residential supply substantially larger than it is today.