DUBAI: Apparel Group, a major player in apparel retail and the Food & Beverage sector, has entered the real estate market with the launch of Kora Properties.
Marking its debut, Kora Properties has announced IL Vento — a 40-storey waterfront residential tower in Dubai Maritime City. The AED 500 million project is slated for completion in 2029.
“At Kora Properties, our vision is simple — to create spaces that inspire living. Inspired by the wind and the sea, IL Vento embodies Dubai’s essence: dynamic, elegant, and full of life,” said Nilesh Ved, Chairman of APPCORP Holding and owner of Apparel Group, who will also chair Kora Properties.
Following this first development, the company plans to unveil its second project — commercial and semi-commercial towers in Dubai — by the end of December, Ved told reporters here.
Ved remains optimistic about real estate opportunities across the GCC, beginning with the UAE and gradually expanding into global markets. The group also intends to invest in shopping malls in emerging regions, including India, where Ved sees significant untapped potential.
“We are looking to invest in shopping malls across emerging markets, including India, ideally in partnership with a strong local player,” he said.
Apparel Group already has a substantial footprint across the GCC, India, and other regions. To support its expansion into new sectors, the company is forging strategic alliances.
Discussing India, Ved noted that Apparel Group has partnered with French retailer Carrefour, which will initially launch its exclusive brands in North India before rolling out nationwide. The first Carrefour outlets are expected to open in the NCR region.
Founded in 1996, the group manages a portfolio of over 85 brands and operates more than 2,300 stores across 14 countries in the Middle East, India, Southeast Asia, and Africa.
