Home Integrator
SOURCE OF FATE RECORDS 80 PER CENT OVERSEAS BUYER INTEREST FOR FLAGSHIP PROJECT MIRAGGIO
Source of Fate (SOF), a high-end luxury real estate developer in the UAE, operating under the Wheel of Fate Group, recorded a substantial inflow in international investments for its flagship development Miraggio with 80 per cent of buyers from overseas. As a first-line seaside residential, located on Al Marjan Island, the project is gaining strong attention from global investors seeking long-term value in one of the UAE’s most promising coastal destinations.
The demand is led by investors from the United Kingdom, followed by Turkey, Poland, France, the United States, and India. With the launch of Miraggio Phase II, the developer has also introduced a competitive payment plan to enhance investor flexibility requiring 20 per cent on booking, allowing buyers to resell at this stage if needed; 40 per cent upon completion, with the option to split into a more flexible payment or loan plan; and the remaining 40 per cent spread over two years post-handover. This further contributes to the project’s appeal, with flexible and innovative payment structures currently shaping real estate decisions in the UAE.
Dr Majid Jack Hsiung, General Manager of Source of Fate, said: “Investor behaviour across the UAE is shifting, with decision-makers increasingly prioritising stability, elevated lifestyle offerings, and assets that deliver sustainable long-term value. Miraggio meets this demand with full sea views, elegant design, high-end amenities, competitive pricing, and a luxurious residential lifestyle. Additonally, our new structured payment plan further strengthens the project’s positioning and appeal among investors seeking practical flexibility, security and certainty, as it eases upfront financial pressure, improves cash flow management and supports long-term investment planning.”
According to the company’s reports, Miraggio’s sales are dominated by long-term investors seeking returns upon project completion, influenced by strategic factors such as Ras Al Khaimah’s expanding entertainment sector, the upcoming Wynn Al Marjan Island resort, growth in tourism, and an increase in company formations. The buyer profile shows a range of seasoned investors to first-time international entrants seeking to diversify their portfolios outside traditional markets.
Following the rapid success of Source of Fate’s previous project, Sunshine Bay, which sold out in just two months, Miraggio continues to demonstrate the developer’s ability to deliver highly desirable waterfront projects that resonate with both regional and international investors.
Coastal developments featuring sustainable design, integrated lifestyle amenities, and flexible ownership options are increasingly capturing investor attention, reflecting evolving investor priorities and broader trends shaping the UAE luxury real estate sector. In Ras Al Khaimah’s evolving market, Source of Fate’s project, Miraggio, is poised to contribute to the emirate’s growth, offering a development that aligns closely with investor expectations while embodying the key trends driving the region’s luxury property market.
Home Feature
HOW TO DESIGN FOR THE NIGHT ECONOMY
By Hisham El Assaad, Founder of OSUS Properties
Cities have been engineered for the sun. Workdays convene at 9, errands end by 8, and residential streets dim to silence by 11. That’s the situation in most cities around the globe. Yet the economic life of a modern metropolis does not fade with daylight. The night economy, spanning entertainment, after-hours logistics, healthcare, hospitality, mobility, and a vast shift-based workforce, now determines where value concentrates and how real estate must evolve.
Time as a zoning variable
Traditional master plans separate uses by function. Night-ready districts separate and orchestrate uses by hour. A warehouse can be a training and community facility by day, then flip to micro-fulfillment after dark. Residential buildings serving nurses, hospitality teams, pilots, and warehouse crews should include ‘reverse amenities’. This includes circadian lighting presets, blackout shades, acoustic floors, cold-storage lockers for off-hour deliveries, and nap pods in shared lounges. Retail and F&B clusters need performance-grade acoustics, safe pedestrian flows, and curbside ‘flex lanes’ that transform from café seating in the evening to freight access windows at 2 a.m. When we design for temporal adjacencies, conflicts decline and productivity rises.
Make logistics omnipresent but invisible
Night is the heartbeat of e-commerce and just-in-time supply. Real estate that wins the night integrates micro-fulfillment centers under podiums, dark stores in secondary frontages, and EV charging in subgrade decks. Sound-dampened loading bays, rubberized ramps, and sensor-based dock scheduling reduce noise and congestion. Street edges should host QR-coded pickup zones that revert to parking or micromobility docks by day. The goal is elegant frictionlessness where goods move, riders transfer, and residents sleep, simultaneously.
A test of trust and experience
After dark, perception drives behavior. Lighting must shift from merely bright to legible. It should be uniform, glare-free, and coordinated with wayfinding and CCTV sightlines. Mixed-use promenades benefit from layered activity, late-opening bookstores beside dessert bars, wellness studios, and compact performance stages, so footfall never collapses into pockets of emptiness. Transit nodes need 24/7 restrooms, vending, secure waiting areas, and live service information. When people feel invited to linger, they spend. When workers feel respected, they stay.
How to make it work?
To operationalize this, I advocate a pragmatic 5D framework for night-ready districts. First comes demand. Map footfall and order density by hour, not day. The midnight–4 a.m. window often contains high-value micro-peaks that justify targeted F&B, wellness, and logistics capacity. Second, dwell. Design for safe lingering, including continuous sightlines, seating ‘in company’ not isolation, and late-night services (pharmacies, clinics, transit help desks). Third comes delivery. Engineer curb and vertical circulation for after-hours freight, with quiet materials, timed access, and basement micro-hubs to keep streets serene. Fourth is diversity, where you should bear in mind to mix uses so no single category dominates. Residential, hospitality, education, and culture should overlap to sustain a living pattern every hour. And last, data. Districts should be instrumented with sensors for noise, light, air quality, and footfall; feed this into rolling operations plans that adjust cleaning, security, staffing, and routing by hour.
What it means for developers and investors
For investors and developers, the economics are compelling. Night extends asset utilization from a single shift to a 24-hour yield model. A logistics-light podium can improve retail sales conversion. A hospitality cluster co-located with medical and aviation housing reduces vacancy risk, and a residential asset tailored for shift workers commands loyalty and length of stay. Crucially, night design mitigates externalities, including noise, traffic, and light pollution, before they become regulatory barriers or community flashpoints.
City leaders must provide incentive overlays for late-opening anchors, performance-based noise and lighting standards, and expedited approvals for mixed-use projects that include subgrade logistics. They should also provide transit service commitments that align with workforce rosters. Safety is policy, but it is also design, eyes-on-the-street programming, active frontages, and predictable maintenance cycles.
Dubai and the wider Gulf have a natural edge. They are a service-centric economy, with global travel cycles, and a culture of operational excellence. Our opportunity is to codify night into the blueprint, so every master plan, every tower, every district is evaluated for its 2 a.m. performance as rigorously as its 2 p.m. peak.
Home Integrator
TOWNX HITS 40% CONSTRUCTION PROGRESS ON ASHLEY HILLS IN FOUR MONTHS FROM LAUNCH
TownX, one of Dubai’s fastest-growing real estate developers with an AED 4 billion project portfolio, has announced a significant milestone in the construction of its AED 662 million Ashley Hills project. In just four months since the project launch, the development has reached 40% construction progress, demonstrating the company’s efficiency and commitment to delivering high-quality residential communities.
Located in the heart of Arjan, Ashley Hills is a flagship development that will feature 616 residential units across 400,000 square feet of sellable area. The project is designed to offer a mix of spacious apartments that cater to families and investors seeking modern, sustainable living spaces in one of Dubai’s fastest-growing districts.
The project’s progress includes several key milestones. Site mobilization, enabling works, piling and foundations, and substructure works have all seen notable progress, with significant advancement made on the superstructure and internal works. The external envelope and building services are also underway, while internal finishes are in progress. External works and infrastructure are set to begin in the coming months.
In August 2025, TownX appointed Ocean Stone as the main contractor for the project. Ocean Stone, known for their extensive experience in large-scale residential developments, has been instrumental in driving the project forward and ensuring timely progress.
Haider Abduljabbar, Executive Director of TownX, commented: “We are extremely proud of the remarkable progress made in just four months of construction. Achieving 40% completion is a testament to the hard work of our team and our contractors, whose collaboration has been instrumental in reaching this milestone. We are excited about the future of this project and remain focused on delivering Ashley Hills on time while maintaining the high standards TownX is known for.”
The rapid progress reflects TownX’s dedication to meeting the growing demand for high-quality residential options in Dubai. The strategic location of Ashley Hills in Arjan offers excellent connectivity to major roads such as Sheikh Mohammed Bin Zayed Road and Al Khail Road, along with access to schools, retail centers, parks, and recreational facilities, making it an ideal living destination.
Since its inception in 2017, TownX has focused on delivering projects ahead of schedule and with attention to detail. With over 1,567 units delivered and 1,174 apartments currently in development, the company continues to expand its footprint in Dubai’s real estate market. Ashley Hills is another milestone in TownX’s efforts to create residential communities that meet the needs of modern families while delivering long-term value.
Other key developments delivered by TownX include Easy18, Easy19, Luma21, Luma22 and Luma Park Views in JVC. Ongoing projects include 11 Hills Park at Dubai Science Park and Ashley Hills in Arjan.
Home Integrator
MERED PARTNERS WITH NSCC INTERNATIONAL TO KICK OFF RIVIERA RESIDENCES DEVELOPMENT ON AL REEM ISLAND
MERED, the award-winning international real estate developer, has appointed NSCC International as the enabling works contractor for Riviera Residences, its landmark waterfront development designed by Pritzker Prize-winning architects Herzog & de Meuron on Al Reem Island, Abu Dhabi. The appointment marks another significant milestone in the construction of one of the capital’s most anticipated residential projects.
With this appointment, NSCC International will take the lead on the project’s enabling works phase, encompassing all piling and shoring activities. Founded in Abu Dhabi in 1968, NSCC has grown from a marine contractor into a multi-disciplined regional leader in ground engineering. Over the decades, the company has delivered the foundations of some of the Middle East’s most technically demanding and prestigious developments, such as Zayed International Airport Terminal A, Reem Hills, Zayed National Museum, and Al Raha Beach Development in Abu Dhabi, as well as the Etihad Museum and The Address Residence Skyview in Dubai, alongside numerous landmark projects throughout Saudi Arabia, Qatar, and Oman.
Michael Belton, CEO of MERED, said: “Partnering with NSCC International represents our continued commitment to delivering Riviera Residences with the highest standards of precision and quality. NSCC’s deep technical expertise and reputation for excellence across the region make them an ideal partner for a project of this scale and architectural ambition. Together, we are shaping a residential community that reflects both the innovation and natural beauty of Abu Dhabi’s coastline.”
Khalil N. Khouri, Group CEO of NSCC International, added: “Riviera Residences embodies world-class design and engineering, and our team is proud to contribute to its foundation. With our decades of experience and commitment to safety and technical excellence, we look forward to setting the groundwork for what will become one of Abu Dhabi’s most distinctive residential destinations.”
Located on Al Reem Island, Riviera Residences is strategically positioned within Abu Dhabi Global Market, one of the capital’s most dynamic districts, home to international schools, premium offices, advanced healthcare facilities, and leisure amenities. The island continues to attract strong investor interest, with off-plan property prices rising by 38% year-on-year during Q2 2025, reflecting confidence in its long-term value.
Envisioned as a lush sanctuary within the city, Riviera Residences is set to redefine waterfront living in Abu Dhabi with more than 400 elegantly designed apartments and 12 exclusive villas, including sky villas, ocean villas, and a penthouse. The project blends contemporary architecture with Abu Dhabi’s rich pearl-diving heritage, expressed through luminous mother-of-pearl façades that capture natural light. The interiors, amenities, and lobby emphasize timeless elegance, seamless functionality, and meticulous detail.
Residents will have access to four swimming pools, a world-class fitness centre, wellness spaces, indoor and outdoor yoga decks, padel and table tennis courts, and dedicated spaces for families and social gatherings. Riviera Residences will also include a premium waterfront promenade lined with cafés, boutique retail, and fine dining, offering panoramic views of the Azure Lagoon, Al Reem skyline, and Saadiyat Island, and easy access to the island’s pristine beaches.
The enabling works are now underway, with main construction set to follow. Once completed, Riviera Residences will stand as an architectural landmark that combines sustainable Design, refined living, and a strong sense of place on Abu Dhabi’s evolving waterfront.
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