A logo of Dubai's Emaar Properties is seen at an under-construction building in Dubai, UAE, March 3, 2016. REUTERS/Ahmed Jadallah
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As homebuilders in Dubai and Abu Dhabi think up extravagant incentives to shake the property market out of its long slumber, the government will offer potential buyers something the companies can't – the right to stick around. A decision to extend visas to 10 years for some professionals is seen as a boon for a foreigner-dependent United Arab Emirates property industry that's been in the doldrums longer than anyone expected.Shares in several property companies in the country jumped on the news.Abu Dhabi's Aldar Properties bought $1 billion of real estate assets from Tourism Development & Investment Co. earlier this month, while Emaar, the Dubai-based developer of the world's tallest tower, and Aldar in March agreed on a partnership to develop 30 billion dirhams ($8.2 billion) of real estate projects in the UAE and abroad.
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