Apparel Group Enters Real Estate with Grand Dubai Waterfront Project
The Apparel Group, known for its retail and F&B businesses, is making a significant foray into the real estate market with the launch of Kora Properties and its flagship project, IL Vento, a 40-storey waterfront residential building in Dubai Maritime City.
Real EstateIl VentoDubai Maritime CityKora PropertiesApparel GroupReal Estate NewsNov 16, 2025
Kora Properties has launched its first project, IL Vento, a 40-storey waterfront residential building in Dubai Maritime City. The project is estimated to cost AED 500 million and is scheduled to be completed by the end of 2029. IL Vento is designed to combine tradition, modernity, and a high-class lifestyle for its residents, emphasizing the creation of spaces that the group is committed to.
"At Kora Properties, our vision is simple – to create spaces that inspire living. Inspired by the spirit of the wind and the calm of the sea, IL Vento captures the essence of Dubai – dynamic, elegant, and full of life," said Nilesh Ved, Chairman of APPCORP Holding and Owner of Apparel Group, who also serves as the Chairman of Kora Properties.
The tower will feature 330 residential units, including 182 one-bedroom apartments, 93 two-bedroom apartments, 51 three-bedroom apartments, and 4 penthouse suites, each with 3 bedrooms. The penthouses will offer exclusive amenities such as a spa area and a private swimming pool. The building will also include three basement levels, a ground-floor lobby, and five podium levels for parking.
The company is already planning its next project, which is scheduled for completion by the end of December and will include commercial and semi-commercial towers in Dubai, following the launch of IL Vento. In an interview with PTI, Ved expressed confidence about business prospects throughout the GCC (Gulf Cooperation Council) regions, starting with the UAE and gradually expanding into other global markets.
Besides Dubai, the group is also considering the Indian market for potential investments, particularly in the mall sector. "We are looking to invest in shopping malls across emerging markets, including India, and would prefer to do so in partnership with a player that brings strong local expertise," Mr. Ved said, emphasizing the importance of entering new sectors with the right partners who have substantial knowledge.
The Apparel Group's ambitions in India are becoming a reality. The company has entered into a pact with French retailer Carrefour to be the first to launch Carrefour's exclusive brands in North India, with plans to expand across the country. The first Carrefour stores are set to open in the NCR region, indicating a slow but steady and substantial expansion.
Founded in 1996, the Apparel Group is a holding company with more than 85 brands under its belt and over 2,300 stores spread across 14 countries, including the Middle East, India, Southeast Asia, and Africa. With this move into the real estate sector, the group is not only widening its business portfolio but also affirming a visionary approach that sees the future as a seamless integration of lifestyle, retail, and residential experiences all under one fold.
Frequently Asked Questions
What is the cost and completion date of the IL Vento project?
The IL Vento project is estimated to cost AED 500 million and is scheduled to be completed by the end of 2029.
What are the types of residential units available in IL Vento?
IL Vento will feature 330 residential units, including 182 one-bedroom apartments, 93 two-bedroom apartments, 51 three-bedroom apartments, and 4 penthouse suites, each with 3 bedrooms.
What additional amenities will the penthouse suites offer?
The penthouse suites will offer exclusive amenities such as a spa area and a private swimming pool.
What are the Apparel Group's plans for expansion beyond Dubai?
The Apparel Group is considering the Indian market for potential investments, particularly in the mall sector, and has entered into a pact with French retailer Carrefour to launch exclusive brands in North India.
How many brands and stores does the Apparel Group manage?
The Apparel Group manages more than 85 brands and over 2,300 stores spread across 14 countries, including the Middle East, India, Southeast Asia, and Africa.
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