A new partnership between DIA Holding and Khabib Nurmagomedov is set to bring a residential project to the Dubai Islands, reflecting continued investor interest in the emirate’s property market.
The collaboration will begin with LuzOra Residences, a mixed-use development combining residential units with hotel-style services. The project has an estimated value of about $70 million.
Project details
LuzOra Residences is designed as a hotel and residential hybrid, targeting both investors and end-users. Around 70 per cent of units are aimed at investors, while 30 per cent are intended for residents.
Prices for one-bedroom apartments start from Dhs1.7 million. The developer expects rental yields to begin at 8 per cent, with an average of around 10 per cent. According to the company, 38 per cent of units have already been sold or reserved.
Faruh Kurbanov, Founder of DIA Holding, said: “This partnership is built on a shared mindset — discipline, consistency, and the drive to deliver results. At DIA Holding, every project we complete reflects our commitment to precision and on-time delivery. Khabib’s journey as an undefeated champion mirrors these values. His transition into business has been defined by the same focus and integrity, making him the ideal partner as we scale our vision in the UAE.”
Khabib Nurmagomedov, UFC Legend and Partner at DIA Holding, added: “In both sport and business, success is built on discipline and the strength of your team. What impressed me about Faruh and DIA Holding is their commitment to doing things the right way — quietly, consistently, and with purpose. For us, this partnership goes beyond construction. It’s about creating spaces where people live, grow, and build their future. That responsibility is something we both take very seriously.”
Construction timeline
Construction began in October 2025 and the project is currently about 10 per cent complete, with work at ground floor level. Handover is expected in August 2027.
The development is being built by Al Tamayouz LLC, with Urban Habitat as consultant.
The project includes smart access systems, electric vehicle charging stations and shared mobility options such as golf carts. Other facilities include a swimming pool, fitness centre and private storage areas.
The development also uses an escrow structure, which is commonly used in Dubai to protect investor funds during construction.
The partnership comes as developers continue to launch projects targeting both investors and residents in Dubai’s competitive real estate market. DIA Holding said it plans to expand further in the UAE through similar developments.
tanvir@dubainewsweek.com
