Emaar denies reports it will offer 10-year visas to investors

Fire damaged apartments sit on the upper floors of the Address Downtown Dubai hotel, developed by Emaar Properties, in Dubai on January 3, 2016. Dubai’s Emaar Properties denied reports that it’ll provide 10-year visas to investors in some of its projects, according to Bloomberg. “The issuance of visas falls under the purview of the concerned authorities and Emaar does not have any role regarding the same,” the company said in a statement. Dubai government-backed Al Bayan newspaper reported on Tuesday that the developer will offer 10-year visas to buyers in six residential projects under development, citing unidentified people familiar with the matter. It said the incentive was part of a stimulus package announced by the UAE in June to attract more investors.