Expression of Interest EOI in Dubai Real Estate Explained
What is an EOI in Dubai property market?
Expression of Interest (EOI) payment for a Dubai property pre-launch is a preliminary financial commitment made by prospective buyers to express their serious intent and secure priority access to a property development before its official launch. This payment is typically refundable and serves as a token of the buyer’s interest in the property.
How does Expression of Interest (EOI) work in Dubai property market:
1. Announcement of Pre-Launch:
Developers in Dubai often announce pre-launch sales of upcoming property developments to generate interest and gauge demand before the official launch. These pre-launch announcements are usually made through authorized sales agents, marketing campaigns, advertisements, or invitations to events.
2. Expression of Interest:
Prospective buyers interested in purchasing a property during the pre-launch phase are required to submit an Expression of Interest (EOI) along with a specified EOI payment to the developers authorized sales agent. The EOI payment amount is determined by the developer and is often a fraction of the property’s total purchase price.
3. Priority Access:
Upon submission of the EOI payment, the buyer’s interest in the property is acknowledged, and they are granted priority access to the pre-launch sales. This gives them the higher chances of getting the desired unit or as close as possible to it. Sometimes buyers on the priority list also have the opportunity to review project details, floor plans, pricing options, and available units before the general public.
4. Reservation Process:
During the pre-launch sales event or on the launch itself, buyers have the opportunity to reserve their preferred unit by selecting a specific property out of available options. At this time the amount paid towards Expression of Interest is now used to secure that property which is now allocated to them. Afterwards, buyer will sign a reservation form or agreement. Next, buyer will be given a timeframe to complete the downpayment by paying the balance amount.
5. Sales Process:
Following the pre-launch phase, the developer officially launches the project for sale to the general public. Only after the priority buyers who have reserved units during the pre-launch phase. If any units are remaining they will now be opened to general public. The rest of the sales process continues as usual where the buyers get the SPA agreements after completing the downpayment.
6. Purchase Agreement:
Upon finalizing the purchase, buyers are required to sign a formal purchase agreement (SPA) with the developer. SPA is outlining the terms and conditions of the sale, payment schedule, and delivery timeline.
What if I paid an EOI but did not get any unit allocation?
In case you have paid Expression of Interest on time but still did not get a unit allocated or not the satisfactory unit you can request a refund. EOIs are generally refundable which you can always confirm prior to the payment. In case you request a refund it will be returned usually to the same account you paid it from.
It is worth mentioning that sometimes you might want to keep your EOI in place and wait for a possible cancellation. It often happens that units get allocated and are afterwards cancelled. In this case these cancelled units that are now back in stock will be offered to the buyers on the priority list who did not get an allocation. If the unit is not taken by buyer on the priority list, it then goes to general availability open to the public.
How is priority decided among buyers that paid Expression of Interest?
It happens that the number of EOIs submitted exceeds the number of units in a project. The priority among those that have paid EOIs will be following:
- Full Floors
- Half Floor
- Bulk units (4+)
- Bulk units (2-3)
- Single units
Furthermore, if multiple buyers in the priority list have the same targeted units, priority will be based on:
- Amount paid as an Expression of Interest
- Date of submitting and EOI
With priority given to the higher paid amounts. If the amounts are the same then unit will be offered first to the buyer who submitted his EOI first.
Overall, an Expression of Interest payment for a Dubai property pre-launch provides buyers with the opportunity to secure priority access to a desirable property development and streamline the purchase process in a competitive real estate market.
What do we recommend:
Expression of Interest is now very common in Dubai property market due to massive demand. In order to be best prepared and take advantage of the opportunity there are several things you can do.
- Work with a trusted and reputable property consultant
- Have access to early-bird information
- Be ready to act when the time comes
Working with a knowledgable and reputable property consultant can take most of your worries away. A property consultant that understands your requirements and has good access to information can update you immediately upon announcement of the project. This takes care of the early-bird information and puts you in a strong position from the begining.
Next, professional property consultants can give you a lot of information based on the area where the project is announced even without any additional information like brochures, floor plans etc. Saving you time and energy of tiresome research on pros and cons of the area, target audience, expected sales and rental prices and so on.
After the further information is released property consultant can take you through it and predict which units will be in highest demand. According to it you can determine your primary and secondary options of focus and targeted units like range of floors, specific unit series and others.
Consultant will also be able to tell you expected price ranges for these units opposite to limited information of announced starting prices only. Experienced consultant can also tell you about the “sweet spot” in the project where the ratio of value for price is the highest.
Now that you have full clarity of information and understanding of the project your decision will be easy and fast. It will be clear if this is the right match for you to proceed on, or should you wait for a different opportunity.
Frequently Asked Questions on EOI:
EOI stands for Expression of Interest, it is a way for prospective buyers to showcase seriousness and get in priority list for unit allocation in a new development.
Expression of Interest (EOI) is now a very common requirement for pre-launch projects in Dubai due to massive demand.
The amount paid towards EOI is not always the same. Some developers require minimum of AED 20K, some AED 50K, some 5% of the targeted unit average price.Â
Unfortunately no, payment of EOI does not guarantee that you will be allocated your desired unit or maybe any unit at all. It heavily depends on the demand for that project and specific unit type.Â
To increase your chances further than just paying an EOI you can submit it timely and pay a higher amount. Paying higher than minimum requested and being among the first to submit it after the project is announced greatly increases your chances.
Yes, generally EOI amount is refundable in case of no satisfactory unit delivered. It is refunded to the same account you paid it from and timeframe for refund is usually 30 days.
Book a Free Consultation, Submit the Form Below:
Contact us:
You Might Also be Interested In:
![qr code petkovic properties](https://petkovicproperties.com/wp-content/uploads/2024/02/Untitled-design-1-1-1024x666.jpg)
Join Our Private WhatsApp Community!
As a part of this private community, you’ll be the first to know about new launches, upcoming projects, and crucial insights on the Dubai Real Estate market.
Plus, we prioritize your privacy, so you’ll be receiving messages only from us, and no other participant can see your number or contact you.
Stay on top of the game when it comes to Dubai Real Estate.
Explore the Latest Dubai Projects:​
Ellington Belgrove Meydan Horizon MBR City Dubai
ELLINGTON BELGROVE MEYDAN HORIZON OVERVIEW: Ellington Belgrove in Meydan Horizon...
- 1 bed
- 1 bath
- 754 sq ft
Sobha Elwood Villas Dubai
SOBHA ELWOOD VILLAS DUBAI OVERVIEW: Sobha Elwood Villas Dubai is...
- 4 beds
- 3 baths
- 4958 sq ft
Emaar Parkland Dubai Hills Estate DHE
EMAAR PARKLAND DUBAI HILLS ESTATE OVERVIEW: Emaar Parkland Dubai Hills...
- 1 bed
- 1 bath
- 742 sq ft
Medore 2 JLT Jumeirah Lake Towers Dubai
MEDORE 2 JLT DUBAI OVERVIEW: Medore 2 in JLT Jumeirah...
- 1 bath
- 384 sq ft
Haya Town Square Dubai By Nshama
HAYA TOWN SQUARE DUBAI BY NSHAMA OVERVIEW: Haya Town Square...
- 1 bed
- 1 bath
- 680 sq ft
Emaar Club Place Dubai Hills Estate DHE
EMAAR CLUB PLACE DUBAI HILLS ESTATE OVERVIEW: Emaar Club Place...
- 1 bed
- 1 bath
- 693 sq ft
Emaar Altus at Dubai Creek Harbour DCH
EMAAR ALTUS DUBAI CREEK HARBOUR DCH OVERVIEW: Emaar Altus at...
- 1 bed
- 1 bath
- 665 sq ft
Samana Avenue DLRC Dubai Land Residence Complex
SAMANA AVENUE DLRC OVERVIEW: Samana Avenue in DLRC also known...
- 1 bath
- 426 sq ft
Emaar Avena 1 & Avena 2 The Valley 2 Dubai
EMAAR AVENA 1 & AVENA 2 THE VALLEY 2 OVERVIEW:...
- 4 beds
- 6 baths
- 3685 sq ft
Green Group The Autograph S Series JVC Dubai
GREEN GROUP THE AUTOGRAPH S SERIES JVC DUBAI OVERVIEW: Green...
- 1 bath
- 463 sq ft
Emaar Marina Views RYM Rashid Yachts & Marina Dubai
EMAAR MARINA VIEWS RYM DUBAI OVERVIEW: Emaar Marina Views RYM...
- 1 bed
- 1 bath
- 720 sq ft
Emaar Ocean Cove RYM Rashid Yachts & Marina Dubai
EMAAR OCEAN COVE RYM DUBAI OVERVIEW: Emaar Ocean Cove RYM...
- 1 bed
- 1 bath
- 785 sq ft
Empire Livings Dubai Science Park next to Arjan
EMPIRE LIVINGS DUBAI SCIENCE PARK OVERVIEW: Empire Livings Dubai Science...
- 1 bath
- 352 sq ft
Damac Violet Damac Hills 2 Townhouses Dubai
DAMAC VIOLET DAMAC HILLS 2 OVERVIEW: Damac Violet Damac Hills...
- 4 beds
- 4 baths
- 2352 sq ft
Riviera Lodge JVC Dubai Jumeirah Village Circle
RIVIERA LODGE JVC DUBAI OVERVIEW: Riviera Lodge JVC Dubai aka...
- 1 bed
- 1 bath
- 932 sq ft
Savannah Town Square Dubai by Nshama
SAVANNAH TOWN SQUARE BY NSHAMA OVERVIEW: Savannah Town Square Dubai...
- 1 bed
- 1 bath
- 642 sq ft
Verve City Walk by Meraas
VERVE CITY WALK BY MERAAS OVERVIEW: Verve City Walk by...
- 1 bed
- 1 bath
- 783 sq ft
Ghaf Woods by Majid Al Futtaim MAF Dubai
GHAF WOODS BY MAJID AL FUTTAIM MAF OVERVIEW: Ghaf Woods...
- 1 bed
- 1 bath
- 675 sq ft
Emaar Arlo Dubai Creek Harbour DCH
EMAAR ARLO DUBAI CREEK HARBOUR OVERVIEW: Emaar Arlo Dubai Creek...
- 1 bed
- 1 bath
- 705 sq ft
Damac Riverside Villas and Townhouses Dubai New Community
DAMAC RIVERSIDE VILLAS AND TOWNHOUSES OVERVIEW: Damac Riverside is a...
- 4 beds
- 3 baths
- 2297 sq ft