In real estate, EOI stands for Expression Of Interest. It allows a buyer or investor to express their desire to purchase or invest in a property by paying a small fee.

• An EOI is typically non-binding and conditional, meaning that it doesn’t create a legal obligation for the buyer to proceed with the purchase. Generally, an EOI is refundable if submitted on time and an unsatisfactory unit is allocated. However, there are situations where the EOI may not be refunded, depending on the conditions set by different developers. The broker can assist throughout the process.
• The real estate market in Dubai is so dynamic that, at the time of the launch, highly sought-after units often sell out quickly. Therefore, submitting the EOI promptly before the launch is crucial. Taking early action can be a key factor in successfully securing a desired property.

Process:

• The EOI submission deadline is very limited, generally less than a week.
• The EOI can be submitted by cheque for residents and by bank transfer for overseas buyers.
• Certain documents are required and can be sent by email to the broker, including a copy of the passports, a copy of the Emirates ID for residents, the EOI form (which includes full name, address, email, phone number, type of property, budget, and view), and some developers may require a credit authorization form.