The UAE’s luxury real estate market is gaining a new player as independent developer Source of Fate launches with a massive AED 10 billion ($2.7 billion) pipeline of residential projects across Dubai and Ras Al Khaimah. The company, which is part of the Dubai-based conglomerate Wheel of Fate, aims to establish five major developments over the next 12 months, with a strong emphasis on sustainability, community building, and luxury living.
Although the exact locations in Dubai have not yet been revealed, the developer has confirmed two premium residential projects in the emirate, alongside three residential projects on Al Marjan Island in Ras Al Khaimah. The island has seen a surge in property values following the announcement of Wynn’s plan to build the UAE’s first gaming resort there.
Source of Fate’s Vision
The newly established firm, led by Dr. Majid Jack Hsiung, who brings more than 20 years of experience in property development across the Middle East and Asia, is set to create luxury living communities that prioritize sustainability and wellness. “We are crafting elegant living communities with a focus on premium luxury, sustainability, and wellness. We are deeply committed to providing lasting value and enriching the overall quality of real estate across the UAE. Our upcoming projects will launch off-plan sales to brokers, real estate investors, and prospective homeowners over the coming months,” Hsiung stated.
Dubai Strategy and Partnerships
In line with its goal to build positive and sustainable communities, Source of Fate will fully fund its development pipeline, ensuring delivery and quality. The firm has also appointed global real estate consultancy Savills as an expert advisor, with plans to officially launch its first projects in the coming weeks.
Dubai Boosting Ras Al Khaimah’s Real Estate Market
The projects on Al Marjan Island come at a time when Ras Al Khaimah is experiencing heightened interest from both domestic and international investors. The luxury residential developments by Source of Fate are expected to capitalize on the island’s increasing allure as a prime destination for high-end real estate.
Looking Ahead
With a focus on creating sustainable, high-quality residential communities, Source of Fate is set to make a significant impact on the UAE’s real estate landscape. As demand for luxury homes continues to rise, particularly in Dubai and Ras Al Khaimah, the company’s $2.7 billion development pipeline positions it as a major player to watch.
