Source of Fate Properties breaks ground on debut Al Marjan Island project

Prime seafront residential development Sunshine Bay will feature 240 luxury residences

Source of Fate Properties has announced the groundbreaking and commencement of construction at Sunshine Bay, its first project on Al Marjan Island in Ras Al Khaimah. Sunshine Bay is a luxury prime seafront residential development with 240 residences, just a 15-minute walk from the new Wynn Al Marjan Island resort. The groundbreaking ceremony took place on-site, with prestigious guests including Khaled Assaf, commercial director at Marjan, Mohamed Mahmoud from the Escrow Division at Ras Al Khaimah Municipality, and Andrew Cummings, head of residential at Savills Middle East, which is providing key consultancy.

Source of Fate Properties has partnered with Italian architecture and design firm, Mercurio Design Lab (MDL) for the project. Sunshine Bay has already won three awards for its innovative concept and styling, reaffirming the developer’s approach to craft unique and inspirational properties.

Dr Majid Jack Hsiung, general manager, Source of Fate Properties', said: "There are many iconic buildings in the UAE, so we understand the importance of crafting distinctive properties that stand out. Sunshine Bay is ideally located on Al Marjan Island and we believe it provides a wealth of opportunities for prime residential investors and prospective homeowners. As a business, we are keen to set new benchmarks for luxury living and we look forward to welcoming our first residents to Sunshine Bay in early 2027."

Cummings said: "Sunshine Bay raises the bar for developments on Al Marjan Island. It will be an elegant resort-style community for residents and given the expected boom in tourism, bolstered by the development of hospitality landmarks such as the Wynn Al Marjan Island, we expect a robust return and capital appreciation for investors."

Tourism numbers in Ras Al Khaimah climbed 8 per cent in 2023 to 1.22 million visitors, with those figures expected to skyrocket to 5 million visitors per year by 2030. Population within the emirate is also expected to boom by more than 600,000 in the same time period.

Residents of Sunshine Bay will have access to world-class amenities across its 12 floors, including infinity pool, gym, spa, steam rooms, saunas, outdoor yoga spaces and fitness areas. Within the public areas, there will also be an atrium garden, business lounge, billiard room and family-friendly community facilities such as a barbecue area, outdoor sundeck, kids' pool and children’s playground.

Sunshine Bay will have a range of spacious residences starting from Dh980,000, including studio, one and two-bed options, plus an exclusive selection with features such as terraced gardens, jacuzzis and plunge pools.

Sunshine Bay is part of the Source of Fate Properties portfolio, which has a pipeline of more than Dh10 billion in luxury real estate investments across the UAE. Upcoming projects to be announced over the coming 12 months include further developments on Al Marjan Island, as well as at least two launches in Dubai.

For more information about Source of Fate visit sourceoffate.com and to discover Sunshine Bay visit sof-sunshinebay.com.