Apparel Group Expands Horizons with Real Estate Venture in Dubai

The Apparel Group has ventured into real estate by launching Kora Properties, which unveiled its debut project, IL Vento, in Dubai Maritime City. The $500 million initiative is set for completion in 2029. Chairman Nilesh Ved announced plans for further developments, including investments in shopping malls across emerging markets like India.

The Apparel Group, a renowned leader in the apparel retail and Food & Beverage sectors, has now embarked on a new journey into the real estate industry by launching Kora Properties. Setting its footprint in Dubai, Kora Properties revealed its inaugural project, IL Vento, a 40-storey waterfront residential marvel in Dubai Maritime City.

The cost of the expansive project stands at AED 500 million, with completion scheduled for 2029. Nilesh Ved, Chairman of both APPCORP Holding and the Apparel Group, expressed that the vision for Kora Properties is to craft inspiring spaces. IL Vento elegantly mirrors Dubai's dynamism and sophistication, underlining the ethos of the city itself.

Building on this foundation, Ved aims to introduce another development by December, featuring commercial towers in Dubai, while also exploring investments in shopping malls within emerging markets like India. He recognizes the need for strategic alliances, partnering with local experts to enhance the group's capabilities in these new sectors.

(With inputs from agencies.)