DEAL BREAKDOWN
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.