UAE Real Estate: Source of Fate Commences Construction on Al Marjan Island Development with Homes Starting at $267,000 and a $2.7 Billion Project Pipeline

Thursday, 31 October 2024

Source of Fate Properties has commenced construction on Sunshine Bay, a luxury residential development on Al Marjan Island, Ras Al Khaimah. With 240 residences available from $267,000, this project is part of a broader AED 10 billion ($2.7 billion) pipeline and aims to set new standards in luxury living.

Key Highlights:

  • Developer: Source of Fate Properties has broken ground on Sunshine Bay, a luxury residential project.
  • Location: Situated on Al Marjan Island, just a 15-minute walk from the Wynn Al Marjan Island resort.
  • Residences: The development will feature 240 residences, including studios, one-bedroom, and two-bedroom apartments, starting from AED 980,000 ($267,000).
  • Pipeline: The developer has over AED 10 billion ($2.7 billion) in planned luxury real estate projects across the UAE.
  • Architecture: Designed in collaboration with Italian firm Mercurio Design Lab, Sunshine Bay has already received three awards for its innovative design.
  • Amenities: Residents will enjoy various amenities, including an infinity pool, gym, spa, outdoor yoga spaces, children’s playground, and more.
  • Market Potential: The project is positioned to benefit from the expected tourism boom in Ras Al Khaimah, anticipating visitor numbers to reach 5 million by 2030.