Source of Fate, a new independent luxury real estate developer, has launched in the UAE with a pipeline of almost AED 10 billion ($2.7 billion) in new developments.
The developer is part of the wider Wheel of Fate group, a conglomerate of multiple business units with operations and investments across the MENA region. Source of Fate aims to offer full funding for all their pipeline of real estate developments, guaranteeing delivery, with a focus on establishing sustainable and friendly communities in the UAE.
Savills, a leading global real estate consultancy with more than 160 years of heritage, has been appointed as expert advisor to Source of Fate. The business plans to unveil its first projects within weeks and has already been working with top-tier designers, architects and engineers to craft its high-end luxury spaces.
Source of Fate’s upcoming projects will be led by Dr. Majid Jack Hsiung, an award-winning architect, construction and real estate leader, with more than 20 years of experience spanning major residential, retail, office and leisure projects throughout the Middle East and Asia.
Dr. Hsiung, commented that, “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.”
The dedicated team at Source of Fate has extensive experience working with leading real estate developers. Source of Fate’s confirmed pipeline of projects includes two new residential developments in premium locations in Dubai and three new residential projects on Ras Al Khaimah’s most sought-after island, Al Marjan Island.
The UAE leads the prime residential market, with Dubai recording remarkable progress over the past year including a 17.4 percent increase in capital values according to the Savills Prime Residential World Cities Index. It is predicted that the Emirates will continue to grow and shine throughout the rest of the year and beyond.
