AVENEW Development and Kora Properties form strategic joint venture to deliver a new integrated commercial district in Motor City

DUBAI, UAE: AVENEW Development, the Dubai-born real estate innovator, has entered into a strategic joint venture with Kora Properties to deliver a new integrated commercial district in Motor City, marking a significant milestone in the company’s commercial portfolio.

The partnership brings together AVENEW’s design-led, people-first development philosophy with Kora Properties’ fully integrated real estate development platform backed by APPCORP Holding, one of the region’s leading conglomerates, creating a strong joint venture focused on delivering high-quality, long-term urban assets.

The joint venture’s first project is located on a prime development plot in Motor City, directly adjacent to the Dubai Autodrome. The masterplan will comprise six Grade A office buildings, a hospital, and an integrated retail mall, forming a fully self-sustaining business and lifestyle destination.

Designed as a contemporary urban district, the development will offer open views, landscaped public spaces, and a pedestrian-friendly environment that supports productivity, wellbeing, and everyday ease. The project aligns with Dubai’s broader ambition to create cleaner, more connected, and more sustainable commercial communities.

Commenting on the partnership, Rasha Hassan, Managing Partner of AVENEW Development, said: "We don’t just build structures, we shape experiences. This partnership represents an important step in AVENEW’s growth, allowing us to expand our presence in the commercial sector while staying true to our core philosophy of intentional development. By working with Kora, we are combining design intelligence with operational strength to create a destination that supports how people work, connect, and operate."

Mr Nilesh Ved, Chairman of APPCORP Holding & Kora Properties and Owner of Apparel Group, said: “Our partnership with AVENEW reflects a shared vision to create destinations that deliver lasting value. By combining our expertise across development, design, and execution, we are committed to building high-quality assets that serve businesses, strengthen communities, and stand the test of time. The Motor City development reflects our commitment to building commercially resilient destinations that align with Dubai’s long-term growth ambitions.”

The Motor City development will be curated as a modern integrated commercial environment that blends professional, healthcare, retail, and lifestyle components through green open spaces and thoughtfully designed public realms.

The joint venture reflects a long-term commitment by both partners to Dubai’s urban evolution, positioning the project as a new benchmark for design-led, commercially driven urban districts in the city.

About AVENEW Development:

Avenew Development is more than real estate—it’s about curating a lifestyle where comfort and finesse live together in harmony to create timeless memories. Founded and born in Dubai in 2024, Avenew was co-founded by Rasha Hassan with a vision to craft homes that elevate everyday living. We believe a home is more than just a space—it’s where life’s finest moments unfold.

That’s why we design with intention, creating refined, high-end communities where luxury feels effortless and every detail enhances the way people live, connect, and unwind. At Avenew, we shape more than residences; we create experiences. Our developments are a seamless blend of sophistication and warmth, ensuring that every home isn’t just lived in —it’s cherished. With a deep commitment to redefining modern comfort, Avenew is setting new standards for inspired living in Dubai—one exceptional home at a time.

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 recognized 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, RITUALS, 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, Nilesh Ved and his wife Sima Ved.