Source of Fate Properties and Savills announced that they have officially sold out the developer’s first UAE project, Sunshine Bay on Al Marjan Island. The prime luxury real estate developer completed sales on the AED 500 million (USD 136 million) Sunshine Bay, after an overwhelming response from real estate professionals and investors. More than 37 different nationalities invested in Sunshine Bay, demonstrating its appeal to a broad demographic.
The award-winning project, which has already secured four global design and architecture prizes, has already begun construction and will be one of the first properties to handover to homeowners in line with the opening of the Wynn Al Marjan Island casino and megaresort. Residents will be able to move into Sunshine Bay from early 2027.
Source of Fate Properties General Manager Dr Majid Jack Hsiung said, “Sunshine Bay has proven all the rage with investors. I think Sunshine Bay is particularly appealing because of its location near to the new Wynn resort, its award-winning design and competitive payment plan. We have further developments to announce on Al Marjan Island and this strong demand for such properties has reaffirmed our strategy to build in sought-after destinations.”
Source of Fate Properties appointed global real estate company Savills as master agents responsible for sales of Sunshine Bay and, collaboratively their teams helped devise and launch one of the most effective sales campaigns in Ras Al Khaimah, selling out the property in record time. Marc Tennant, Head of Exclusive Projects at Savills commented, “Al Marjan Island is possibly the hottest real estate in the UAE right now and buyers have jumped on the chance of purchasing a residence. Savills provided an end-to-end servicing, supporting everything from branding through to sales. We worked closely with the developer to introduce premium amenities, optimize layouts, and create a seamless balance between aesthetics and functionality. Combined with a strong marketing strategy and excellent engagement with the brokerage market, this approach led to a complete sell out.”
During the first half of 2025, Source of Fate Properties will be announcing further projects in the UAE across Dubai and Ras Al Khaimah. Source of Fate has spent several years building a land bank in strategic locations across the Emirates, which it is now developing with luxury real estate concepts. Property values are already increasing in these sought-after locations, with Source of Fate Properties looking to launch its latest project next quarter as it continues to grow its development portfolio.
