The developer joins a burgeoning property sector targeted to reach a market value of Dh1 trillion under the Dubai Real Estate Sector Strategy 2033

DUBAI, United Arab Emirates, Oct. 29, 2025 (GLOBE NEWSWIRE) — APPCORP, the holding company of Apparel Group, the leading retail conglomerate in the fashion and lifestyle sector, has announced its foray into the real estate industry with the launch of KORA Properties. The new venture marks a key milestone in APPCORP’s diversification and innovation strategy as well as affirms its commitment to enriching lives in the UAE.

KORA Properties, a fully integrated real estate development company, aims to meet the growing demand for high–quality properties as the UAE continues to rank among the world’s most attractive destinations for real estate investment.
        
The company is led by Mr. Nilesh Ved, Chairman of APPCORP Holding and Owner of Apparel Group, who also takes on the role of Chairman of KORA Properties. Leveraging his deep market knowledge, entrepreneurial expertise, and a strong track record in building global businesses, Mr. Ved is set to steer KORA Properties toward sustained growth and value creation across the region’s dynamic real estate landscape.

The announcement comes as Dubai’s real estate sector is on track to reach a market value of Dh1 trillion under the Dubai Real Estate Sector Strategy 2033, as a result of growing demand with global investors shifting their focus to Dubai. With a clear vision to add significant value to the economy, KORA Properties will develop a variety of real estate projects, from residential to retail and commercial, as well as niche developments for the healthcare and hospitality segments.

Mr. Nilesh Ved, said: “Apparel Group’s motto is to always create experiences that elevate lifestyle for the community, whether through its offerings in fashion, lifestyle, or service. With KORA Properties, we are extending our brand's promise into real estate, promising living spaces that nurture dreams, foster growth, and elevate living. Today marks a new chapter, as we continue to innovate and diversify while staying true to our core values of commitment, quality, and customer–centricity.”

“KORA Properties is founded on the belief that a home is one of life’s most important milestones, and homes are forever. It is not just about bricks, steel, and mortar; it is about creating spaces that become canvases for life’s most meaningful moments and offer ‘Timeless Living’. We are committed to delivering premium residences, offices, and commercial spaces built on transparency, long–term vision, and an unwavering dedication to customer trust.”

By combining Apparel Group’s trusted legacy with a forward–looking vision, KORA Properties aims to redefine modern living and contribute to the UAE’s ever–growing real estate landscape. The launch also reinforces APPCORP Holding’s position as a dynamic, future–ready conglomerate that continues to set benchmarks in innovation, customer service, and sustainable growth. As the Group expands its footprint into real estate, it remains committed to delivering on its promise of enriching lives.

Since its establishment in 1996, Apparel Group has built a strong reputation as one of the most successful retail companies in the region. With a portfolio of over 85 global brands, more than 2,500 stores in 14 countries, and a workforce of 27,000 multicultural employees, Apparel Group continues to deliver exceptional value to millions of customers.

About KORA Properties

KORA Properties is dedicated to delivering exceptional value and meeting the growing demand for premium residential and commercial developments. The company is part of AppCorp Holding, a global conglomerate with a strong presence in 14 countries across four continents. AppCorp’s flagship enterprise, Apparel Group, is a globally recognised retail leader with over 2,500 stores, a diverse portfolio of 85+ international brands. The Group has established a strong presence in the GCC—Bahrain, Saudi Arabia, Kuwait, Qatar, and Oman—and continues to expand across key markets including India, Southeast Asia, South Africa, and Egypt. Offering an integrated omni–channel experience, Apparel Group represents global names such as Tommy Hilfiger, Calvin Klein, Skechers, ALDO, Charles & Keith, and Tim Hortons. Its sustained growth is driven by a multicultural workforce of over 27,000+ and steered under the leadership of its founders, Sima Ganwani Ved and Nilesh Ved.

For media inquiries, contact:
Salah Al Tamimi: [email protected] / +971 56 687 7200
Hiba Alamin: [email protected] / +971 54 595 5750

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/69fe97de–aaec–46cc–aa68–e4dc72caf7be

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