Apparel Group Expands into Real Estate with Dubai's IL Vento Project
Apparel Group, a prominent player in apparel retail and F&B, launches its first real estate project, IL Vento, in Dubai Maritime City. The company plans to expand further with commercial projects and shopping malls in emerging markets.
Apparel GroupKora PropertiesDubaiReal EstateIl VentoReal Estate NewsNov 14, 2025
As part of its entry into the real estate sector, Kora Properties has unveiled a 40-storey, waterfront residential project called IL Vento in Dubai Maritime City. The project, valued at AED 500 million, is scheduled for full completion by 2029.
"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 takes on the role of Chairman of Kora Properties.
Following the successful launch of IL Vento, the company plans to unveil its second development by the end of December. This new project will include commercial and semi-commercial towers in Dubai, further solidifying Kora Properties' presence in the market.
Ved remains optimistic about the opportunities across the Gulf Cooperation Council (GCC) countries, particularly in the UAE, and is looking to gradually expand to other global markets. The group also has plans to invest in shopping malls in emerging markets, including India, where there is significant untapped potential.
"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," Ved added. The Apparel Group has a substantial presence in the GCC, India, and other markets, and is actively seeking alliances to enhance its capabilities in new sectors.
Speaking about its India plans, Ved mentioned that the Apparel Group has partnered with French retailer Carrefour. This partnership will introduce Carrefour's exclusive brands initially in North India, followed by a nationwide rollout. The first Carrefour locations are expected to open in the NCR region.
Founded in 1996, the Apparel Group manages a portfolio of more than 85 brands and operates over 2,300 stores across 14 countries, including the Middle East, India, Southeast Asia, and Africa. The group's expansion into real estate with Kora Properties is a testament to its forward-thinking approach and commitment to diversification.
Acknowledging the need for specialized capabilities, Ved emphasized that the company is actively forging alliances to strengthen its foray into new sectors. This strategic move is expected to open up new avenues for growth and solidify the Apparel Group's position in the global market.
Frequently Asked Questions
What is Kora Properties?
Kora Properties is the real estate arm of the Apparel Group, launched to develop residential and commercial projects in key markets like Dubai.
What is the IL Vento project?
IL Vento is a 40-storey, waterfront residential project in Dubai Maritime City, developed by Kora Properties and valued at AED 500 million.
When is IL Vento expected to be completed?
IL Vento is scheduled to be fully completed by 2029.
What are the future plans of Kora Properties?
Kora Properties plans to launch commercial and semi-commercial towers in Dubai by the end of December and is exploring investments in shopping malls in emerging markets, including India.
Who is Nilesh Ved?
Nilesh Ved is the Chairman of APPCORP Holding and Owner of the Apparel Group, who also serves as the Chairman of Kora Properties.
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