Source of Fate Properties and Savills have announced the complete sell-out of Sunshine Bay, the developer’s first UAE project, located on Al Marjan Island. The AED500 million ($136 million) luxury waterfront development received overwhelming demand from real estate professionals and investors, with buyers from over 37 different nationalities securing units.
The award-winning project, which has already earned four global design and architecture prizes, is currently under construction and is set to be among the first properties to be handed over in line with the opening of the Wynn Al Marjan Island integrated gaming resort.
Homeowners are expected to move into Sunshine Bay from early 2027.
“Sunshine Bay has proven all the rage with investors,” said Dr. Majid Jack Hsiung, General Manager of Source of Fate Properties. “I think Sunshine Bay is particularly appealing because of its location near the new Wynn resort, its award-winning design, and its 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 firm Savills as the master agent responsible for sales of Sunshine Bay.
“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,” said Marc Tennant, Head of Exclusive Projects at Savills. “Savills provided an end-to-end service, supporting everything from branding through to sales. We worked closely with the developer to introduce premium amenities, optimise 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.”
Looking ahead, Source of Fate Properties plans to announce further projects in the UAE across Dubai and Ras Al Khaimah during the first half of 2025.
