DUBAI – Foreign investments totaling AED22 billion ($5.98 billion) were made in Dubai’s real estate market in the first half of the year, the emirate’s Land Department said Tuesday.



The Real Estate Investment Promotion and Management Centre said investors of various nationalities bought 12,875 properties including buildings, land, apartments and villas during H1.



"The real estate sector performance is moving from strength to strength over the past two years. The market has been attracting more foreign investors, which reflects the solid national economy and its excellent growth potentials," said Majida Ali Rashid, its chairwoman.



Indian investors bought a total of 2,153 properties valued at AED3.751 billion, while Pakistanis came second with a total of 1,814 properties at AED1.713 billion.



Latest figures also showed that British investors bought a total of 1,564 properties worth AED2.529 billion in the first half of 2012, ranking third.



Iranian and Russian investors completed the top five positions, with Iranians buying 1,057 properties worth AED1.515 billion and Russians buying 694 properties at a total value of AED1.438 billion.



Iranian investors have snapped up property worth $128 million in Burj Khalifa, in the last six months. – Agencies