Special Deal

OVERVIEW OF THE DEAL

This opportunity represents an exceptional wealth-building and cash-flow preservation vehicle within Miraggio, a multi-award-winning luxury waterfront development by Source of Fate on Ras Al Khaimah's booming Al Marjan Island.

What sets this deal apart is the entirely unprecedented 20/0/40/40 payment plan. Investors benefit from a complete payment holiday during the 3-year construction phase, culminating in an extended 40% post-handover structure spread over two years. By putting down just 20%, you can secure a prime, front-row asset located just a 15-minute walk from the multi-billion-dollar Wynn Casino (slated for completion in 2027). Furthermore, buyers are granted the flexibility to resell after only 20% is paid, offering an unparalleled mechanism for leveraging capital growth prior to handover.

With 1-bedroom community view units starting at AED 2.392M and a highly competitive price-per-square-foot, this deal creates a massive margin for capital appreciation with minimal cash tied up during the build.

WHY THIS DEAL STANDS OUT

Al Marjan Island is rapidly transforming into the region's premier luxury gaming and resort destination, triggering massive international capital inflows.

The "Wynn Effect": Located just 5-minutes from the upcoming $3.9 billion Wynn Resort will feature the region's first gaming casino, driving explosive demand for nearby high-end short-term rentals.
Award-Winning Architecture: Miraggio has been crowned the Best Luxury Waterfront Development RAK 2025 and Project of the Year with the Best Architecture 2025, ensuring the asset commands a premium in the secondary market.
Uninterrupted Sea Views: Positioned on a prime front-row plot, the residences feature flowing organic architecture that maximizes panoramic views of the Arabian Gulf.
World-Class Resort Amenities: Residents enjoy a curated selection of amenities including infinity pools, state-of-the-art fitness centers, padel courts, and tropical gardens.
Proven Developer Track Record: Developed by Source of Fate, a boutique developer with an AED 10 billion pipeline and the team behind the highly successful, sold-out Sunshine Bay project.

PRICING & MARKET POSITIONING

The following table contrasts this Miraggio allocation against current primary market releases by other tier-one developers on Al Marjan Island, adjusted for accurate market averages.

Comparison Summary:

Unbeatable Acquisition Value: Miraggio is entering the market at a significantly lower baseline price per square foot compared to equivalent branded and luxury offerings on the island, giving investors an immediate equity buffer.
Superior Cash-Flow Management: While competitor projects require heavy 40-50% cash deployment during construction, Miraggio allows you to ride the development curve with just a 20% down payment, freeing up your liquidity for other ventures.

Project	Developer	Location	Est. Avg. Price Per Sq. Ft.	1-Bed Entry Price	Payment Plan Structure
Playa Del Sol	Ellington	Al Marjan Island	~AED 3,700	AED 3.3M+	20/40/40 (No Post-Handover)
Costa Mare	Ellington	Al Marjan Island	~AED 3,333	AED 2.8M+	20/50/30 (No Post-Handover)
Shoreline	Damac	Al Marjan Island	~AED 3,200	AED 2.6M+	20/50/30 (No Post-Handover)
Miraggio (Deal)	Source of Fate	Al Marjan Island	~AED 2,975	AED 2.39M	20/0/40/40 (3-Yr Holiday + Post-Handover)

SAMPLE PAYMENT SCHEDULE

The payment plan is heavily weighted toward cash-flow preservation, offering a complete payment holiday during the construction cycle and concluding with a 2-year post-handover plan following the Q4 2028 handover.

(Example based on a 1-Bed Community View starting at AED 2,392,000)

Installment	Milestone	Percentage	Amount (AED)
1	Payable on Booking / Reservation	20.00%	478,400
2	CONSTRUCTION PHASE (3 YEARS)	0.00%	0.00
3	On Handover (Q4 2028)	40.00%	956,800
4	Post-Handover (Over 24 Months)	40.00%	956,800

Importantly, the handover payment is mortgage-eligible, allowing investors to finance the final balance through a local UAE bank. This significantly improves cash-on-cash returns and reduces upfront capital deployment.

RENTAL YIELD ANALYSIS

Al Marjan Island is pivoting toward a high-yield, short-term rental model, driven directly by the imminent opening of the Wynn Casino. Given the 2028 handover (one year post-Wynn Casino opening), the area will be at peak tourism maturity.

Projected Base Annual Rent (Long-Term): AED 175,000
Projected Short-Term Gross Income (Casino Proximity): AED 240,000+
Estimated Annual Running Costs (Service Charges + Mgmt): AED 25,000
Net Projected Annual Rent (Short-Term strategy): AED 215,000
Projected Net Yield: ~9.0% (Based on AED 2.39M acquisition)

Financing Note: Because 40% of the payment is spread across two years post-handover, the property will be generating active rental income that can be used to service the developer payment plan, drastically reducing your out-of-pocket capital.

FINANCIAL PROJECTIONS

The following projections model a conservative baseline using the starting price of AED 2,392,000 for a 1-bedroom unit.

RENTAL YIELD PROJECTION

Rental Projection (1 Bedroom Luxury Unit - 2028 Handover)

Metric	Long-Term Rental Model	Short-Term (Holiday Let) Model
Gross Annual Income	AED 175,000	AED 240,000
Running Costs / Fees	(AED 15,000)	(AED 25,000)
Net Annual Income	AED 160,000	AED 215,000
Projected Net Yield	6.7%	9.0%

PROJECTED RETURN ON EQUITY INVESTED (ROE) (Pre-Handover Flip Scenario)

Investment Component	Value (AED)
Original Purchase Price	AED 2,392,000
Total Equity Invested (20%)	AED 478,400
Projected Market Value at Handover (+25%)	AED 2,990,000
Total Capital Appreciation	AED 598,000
Return on Equity (ROE) at Flip	125%

TOTAL RETURN ON INVESTMENT (ROI) (5-YEAR HOLDING PERIOD)

5-Year ROI Projection (Hold & Rent Strategy)

Metric	Value
Total Asset Price	AED 2,392,000
Projected Value in Year 5 (Capital Growth)	AED 3,200,000
Total Capital Gain	AED 808,000
Projected Rental Income (Years 4–5)	AED 430,000
Total 5-Year Return (Gain + Income)	AED 1,238,000
Total ROI % (Against Asset Price)	51.8%

INVESTMENT ASSUMPTIONS

These projections are grounded in conservative logic. We have modeled a standard 25% capital appreciation across the entire 3-year build cycle, recognizing that front-row inventory near international gaming resorts consistently outperforms traditional residential growth curves.

NEXT STEPS: HOW TO SECURE THE UNIT

Because of the exceptionally rare 3-year payment holiday and the highly competitive price per square foot, inventory at Miraggio is strictly limited and moving rapidly.

Request Full Inventory List: Review the exact unit layouts, views (Community, Island, or Sea View), and floor heights.
Shortlist & Sales Offer: Select your preferred unit and receive a formal Sales Offer directly from Source of Fate detailing the exact payment milestones.
Secure Allocation: AED 50,000 payment secures the unit and locks in the price, with 20% being paid within 30 days, then nothing more to pay for 3 years.

Connect with our team today to receive the digital brochure, floorplans, and live availability.

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Brochure20.2 MB Factsheet254 KB Floor plans9.58 MB Floor platesFloor Plans1.19 MB

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Illustrative model

Scenario modeller

Set your own assumptions and see how Mirraggio Al Marjan Island Exclusive Deal behaves as a cash purchase, the same purchase mortgaged, or a capital-only resale.

Purchase

Purchase price

The price you are actually considering.

Unit size

Drives the service charge only.

Time to handover

Rent and service charge both start here.

Holding & income

Gross annual rent

Your figure — we have not assumed one.

Rent growth

0% holds rent flat. It may be negative.

Vacancy allowance

8% is roughly a month plus re-letting.

Maintenance & management

Letting fees and routine repairs.

Service charge

Replace with the building's own schedule.

Acquisition costs

DLD transfer fee

4% is the Dubai standard.

Agency fee

Buyer-side. 5% VAT added.

Conveyancing, trustee & admin

Trustee, title deed, NOC.

Exit

Holding period

1 to 40 years.

Exit price growth

0% by default: we publish no price forecasts.

Sale agency fee

5% VAT added automatically.

Nothing to calculate yet

Enter the asking price to run the model.

Every figure recalculates as you type. Use the price you are actually considering.

How each figure is calculated

Handover: The date the unit is handed over, set in quarters from purchase. Gross rent, the vacancy allowance, maintenance and management, and the service charge all start there and not before — an unbuilt unit cannot be let and is not billed. The year handover falls in gets the exact fraction it is entitled to, not a rounded whole year. Capital growth is not treated this way: it compounds from today across the whole hold, because an off-plan unit can be sold before it completes. Where the holding period ends before handover, there is no operating income anywhere in the schedule and the whole return is capital movement less costs.
Gross yield: Gross annual rent ÷ purchase price. Before every cost. Where handover is in the future this is a stabilised full year from handover — a rate on the price, not a figure reduced by the construction period. The schedule shows what each year actually books.
Net yield: (Rent collected after the vacancy allowance − maintenance and management − service charge) ÷ purchase price. Stabilised on the same basis as the gross yield.
Rent growth: Compound annual movement in gross rent, applied from handover and stepping at each anniversary of it, which is when a tenancy renews. It may be negative. It does not touch the service charge, which is held flat in nominal terms.
ROI: Total profit over the whole hold ÷ total cash invested (price + all acquisition costs). Unlevered. Not an annual rate.
ROE: Total profit over the whole hold ÷ equity contributed (deposit + all acquisition and finance costs), after debt service. Levered. Not an annual rate.
Cash-on-cash return: Year-one operating cash flow, after debt service where there is a mortgage, ÷ cash invested. Reported separately from ROI/ROE and never merged with it. Year one means the first year of the schedule as it stands: where that year falls before handover it carries no rent, so on a mortgaged off-plan purchase the figure is negative — that is the year you fund out of pocket, and it is shown rather than smoothed away.
IRR: The annualised rate that discounts the dated cash-flow schedule above to a net present value of zero, solved numerically. Where the schedule has no sign change, or the solver does not converge on a single meaningful rate, we print “—” rather than substitute a simpler annualised-return figure.

An illustrative model, not a forecast, a valuation, an offer or investment advice. Every figure is generated from the assumptions on this page — some yours, the rest stated defaults, not promises. Rents, service charges, fees, vacancy, handover dates, financing terms and sale prices vary by unit and over time; past prices are not a guide to future prices. Returns are not guaranteed and capital is at risk.

Mortgage availability, loan-to-value, rate and term are subject to lender criteria and underwriting; nothing here indicates that finance will be offered. Figures exclude any tax payable in your country of residence — take independent financial, tax and legal advice before committing. Mitchell’s Realty is a trading brand; the RERA-licensed entity is The Luxury Real Estate Brokers LLC.

Mirraggio Al Marjan Island Exclusive Deal

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