Source of Fate Properties has officially commenced construction on its new luxury seafront residential project, Sunshine Bay, located on Al Marjan Island in Ras Al Khaimah. The groundbreaking ceremony marked the start of the developer’s first project on the island, with several prestigious guests in attendance, including Khaled Assaf, Commercial Director at Marjan, Mohamed Mahmoud from Ras Al Khaimah Municipality’s Escrow Division, and Andrew Cummings, Head of Residential at Savills Middle East.
Sunshine Bay will feature 240 luxury residences, offering prime seafront living just a 15-minute walk from the newly developed Wynn Al Marjan Island resort. The project is expected to be a key addition to the growing real estate and tourism landscape of Ras Al Khaimah. With construction now underway, the first residents are expected to move in by early 2027.
In collaboration with renowned Italian architecture firm Mercurio Design Lab (MDL), Sunshine Bay has already won three awards for its innovative design and styling. The project is positioned to set new standards in luxury living within the UAE. Dr. Majid Jack Hsiung, General Manager of Source of Fate Properties, commented on the development: “Sunshine Bay is ideally located on Al Marjan Island, and we believe it offers significant opportunities for investors and prospective homeowners. Our goal is to craft distinctive properties that stand out, and we are excited to set new benchmarks for luxury living in the region.”
Andrew Cummings from Savills Middle East praised the project, highlighting its potential for high returns. “Sunshine Bay raises the bar for developments on Al Marjan Island. With the expected boom in tourism, bolstered by hospitality landmarks like the Wynn resort, we foresee strong capital appreciation for investors,” he said.
Ras Al Khaimah’s tourism sector is experiencing rapid growth, with visitor numbers climbing 8% in 2023 to 1.22 million. That figure is expected to surge to 5 million visitors annually by 2030. The population within the emirate is also anticipated to expand significantly, surpassing 600,000 over the same period.
Sunshine Bay will feature an array of world-class amenities across its 12 floors, including an infinity pool, gym, spa, steam rooms, saunas, and outdoor yoga and fitness spaces. Residents will also have access to a range of public facilities, such as a business lounge, billiard room, atrium garden, children’s playground, and family-friendly barbecue areas.
Residences at Sunshine Bay will start from AED 980,000, with options ranging from studios to two-bedroom units. Exclusive selections will include residences with terraced gardens, jacuzzis, and plunge pools. The development is part of Source of Fate Properties’ broader investment portfolio, with plans for more than AED 10 billion in luxury real estate projects across the UAE over the coming years. Additional developments on Al Marjan Island and in Dubai are expected to be announced soon.
