KORA Properties Launches First Project in Dubai, Eyes India's Real Estate Market

India’s commercial real estate market is experiencing a period of hyper-growth, making it an attractive destination for developers like KORA Properties. Nilesh Ved, Chairman of APPCORP Holding and Owner of Apparel Group, and Chairman of KORA Properties, shared insights with ETRetail.

KORA Properties, the real estate development arm of APPCORP Holding, has announced the launch of IL VENTO, a premium waterfront residential tower in Dubai Maritime City. With an investment of AED 500 million, the project is scheduled for completion in 2029.

Ved described IL VENTO as “the first step in extending our legacy of innovation and trust into the real estate world,” adding that the vision for KORA Properties is to “create spaces that inspire living.”

APPCORP Holding, which has a presence in 14 countries across four continents, is best known for its flagship enterprise, Apparel Group. With over 2,500 stores, the group represents 85 global brands like Tommy Hilfiger, Calvin Klein, Skechers, ALDO, Charles & Keith, RITUALS, and Tim Hortons.

Ved believes this retail experience translates seamlessly into real estate. “We understand how spaces influence people and businesses. That knowledge puts us in a strong position as we build our development arm,” he said.

Following IL VENTO, KORA Properties is preparing to launch its second project by the end of December — commercial and semi-commercial towers in Dubai. “Our retail DNA makes us naturally inclined towards commercial spaces,” Ved noted. “We know what retailers and businesses need to thrive, and that insight will define our approach to commercial real estate.”

The group also plans to invest in shopping malls in emerging markets, including India. Ved said that India stands out as one of the strongest potential markets for future expansion. “India is moving at a remarkable pace,” he said. “From consumption to infrastructure to urbanization — everything is accelerating. It’s a market where our expertise fits naturally.”

However, Ved emphasized that any move into India’s commercial real estate ecosystem will be done in collaboration. “We would prefer to partner with a player that brings strong local expertise. Real estate is about long-term relationships and deep market understanding; partnerships allow us to build responsibly and at scale,” he concluded.