Apparel Group Expands into Real Estate with IL Vento in Dubai
The Apparel Group, known for its dominance in apparel retail and F&B, has ventured into real estate with the launch of Kora Properties and its flagship project, IL Vento, a 40-storey waterfront residential development in Dubai Maritime City.
Real EstateIl VentoKora PropertiesApparel GroupDubaiReal EstateNov 14, 2025
As part of its entry into the sector, Kora Properties has unveiled a 40-storey, waterfront residential project — IL Vento — in Dubai Maritime City. The project, at the cost of AED 500 million, is expected to be fully completed 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,” Nilesh Ved, Chairman of APPCORP Holding and Owner of Apparel Group, who also takes on the role of Chairman of Kora Properties, said.
Following this debut project, the company plans to launch its second development by the end of December, which will comprise commercial and semi-commercial towers in Dubai. Ved told PTI in an interview that he remains bullish on opportunities across the GCC (Gulf Cooperation Countries) in the real estate sector, starting with the UAE and gradually expanding to other global markets.
As part of the expansion, the group also plans to invest in shopping malls in emerging markets, including India, where Ved believes 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,” he said.
Apparel Group has a significant presence in the GCC, India, and other markets. Acknowledging the need for specialised capabilities, Ved mentioned that the company is actively forging alliances to strengthen its foray into new sectors.
Speaking about its India plans, Ved added that Apparel Group has partnered with French retailer Carrefour, which 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 group manages a portfolio of more than 85 brands and operates over 2,300 stores across 14 countries spanning the Middle East, India, Southeast Asia, and Africa.
Frequently Asked Questions
What is the name of the Apparel Group's real estate project in Dubai?
The Apparel Group's real estate project in Dubai is called IL Vento, a 40-storey waterfront residential project in Dubai Maritime City.
What is the expected completion date of IL Vento?
IL Vento is expected to be fully completed by 2029.
Who is the Chairman of Kora Properties?
Nilesh Ved, who is also the Chairman of APPCORP Holding and Owner of Apparel Group, is the Chairman of Kora Properties.
What other real estate projects does Kora Properties plan to launch?
Kora Properties plans to launch its second development by the end of December, which will comprise commercial and semi-commercial towers in Dubai.
What are the Apparel Group's plans for expanding into India's real estate market?
Apparel Group plans to invest in shopping malls in emerging markets, including India, and prefers to do so in partnership with a player that brings strong local expertise.
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