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By the way, there is a song titled " Я тебя всегда буду ждать".
In it you will see the flexibility of the Russian syntax.
Follow the direct object "тебя" throughout the song:
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Я тебя...

" Я БУДУ тебя ЖДАТЬ" is a sentence about the future.
Future actions in Russian can be expressed:

(1) either by the PERFECTIVE form of the verb:
-- я ПОДОЖДУ тебя;
-- я ПОДУМАЮ;
...