(MENAFN- Khaleej Times)

AppCorp Holding, the parent company of fashion and lifestyle conglomerate Apparel Group, has made its first move into Dubai's booming property market with the launch of KORA Properties, a“fully integrated” premium-segment real-estate development firm.

KORA Properties will operate as a developer, with its debut project scheduled to launch on November 12 in Dubai Maritime City, Khaleej Times can reveal.

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The company is chaired by Nilesh Ved, Chairman of AppCorp Holding and owner of Apparel Group, who said it will focus on developing premium residential and commercial spaces.

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“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',” he said.

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. KORA Properties plans to develop multiple projects - from residential to retail and commercial - as well as niche developments in the healthcare and hospitality segments.

Ved said the multi-billion-dollar Apparel Group aims to 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.”

The venture marks a key milestone in AppCorp's diversification strategy as it expands beyond retail and lifestyle into high-value sectors aligned with the UAE's long-term growth plans.

Established in 1996, Apparel Group has built one of the region's largest retail footprints, representing more than 85 global brands across 2,500 stores in 14 countries and employing 27,000 people. The creation of KORA Properties positions AppCorp as a multi-sector holding company with ambitions stretching from fashion to real-estate development.

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