Board Meeting no. (2/3/2026) on February 3, 2026

The Board of Directors held its meeting no. (2/3/2026) on February 3, 2026 at 5:00 PM at the headquarters of the Riffa Views Company, and issued its decisions according to the items below:

1. Meeting with the external auditor to discuss the audit of the Association’s financial report for 2025

The Board held a meeting with the audit team of KPMG Fakhro, the Association’s external auditor, during which the audit work on the Association’s accounts for the financial year ended 31 December 2025 was discussed. The Board listened to the principles and basis upon which the audit will be conducted and took note of the auditor’s observations. The Board emphasized the importance of completing the audit for 2025 prior to the scheduled General Assembly meeting in May.

2. Approval of the minutes of meeting No. 1/3/2026 held on 6 January 2026

The Board approved the minutes of the previous meeting. The Treasurer noted the importance of early preparation for the implementation of the By-Law on the Use and Exploitation of Common Areas by obtaining bids, proposals, and input from potential interested parties.

3. Monthly report of the Association Manager for December 2025

The Board listened to a presentation by the Association Manager highlighting key achievements during 2025, noting the following:

• With respect to the preliminary financial statements for 2025, total comprehensive income amounted to BD 35.7 thousand. Total assets increased by 6%, reflecting a strong financial position. Equity increased by 11%, primarily due to an increase in the capital asset replacement reserve. Total liabilities decreased by 12%, indicating financial stability. The 4% increase in common area maintenance costs was due to additional measures to prevent rainwater damage, as well as asphalt and irrigation network maintenance works.

• With respect to service charge contribution collection, 2025 recorded a milestone year, with receivables decreasing by 29%, indicating improved collection performance. A total of BD 1.580 million was collected during the year compared to BD 1.405 million in the previous year, representing a 12% increase.

• With respect to enforcement cases, Orders to Pay, and service charge contribution notices, 45 Orders to Pay were issued in 2025 with a total value of BD 92 thousand, of which BD 49 thousand was collected (53%). Additionally, 141 notices were issued totaling BD 187 thousand, of which 62% was collected.

• With respect to community activities, several infrastructure and landscaping projects were implemented, including Gate (2) development, Gate (1) design, L-10 park, O-23 park, installation of playground equipment, and others. Significant progress was also achieved in electricity surveys in coordination with GEMAC and Castello. Building violations by owners were reduced due to improved monitoring and follow-up.

• With respect to the Master Plan update, 2025 witnessed the approval of the revised Riffa Views Master Plan, with significant progress made with the Urban Planning and Development Authority to finalize the Subdivision Plan. Additionally, seven (7) common area title deeds were registered with the Survey and Land Registration Bureau.

• With respect to the solar power plant project in Riffa Views, it remains under review by the Electricity and Water Authority due to operational and financial challenges, which may require arranging a meeting with relevant officials to explore ways to proceed with the project.

• With respect to the stormwater drainage channel project on Road 96 near Lagoon Gate, it remains under study by the Ministry of Works and relevant authorities, and may require arranging a meeting with officials to explore the best implementation approach.

During the discussion, the Board commended the efforts of all Board members and the Association Manager’s company and decided to request meetings with officials from the Electricity and Water Authority and the Ministry of Works to study the implementation of the solar plant and stormwater drainage projects.

4. Discussion of preliminary designs for the Association headquarters project

The Board reviewed the initial concept submitted by the consultant responsible for preparing the headquarters design drawings. The Association Manager explained the proposed options and associated project facilities. Following discussion, the Board approved Option (1), which includes a built-up area of 1,488 square meters. The Board requested members to submit their comments to the Association Manager within one week, after which a follow-up meeting will be held with the consultant to incorporate final comments and revisions into the preliminary designs.

5. Approval of the list of candidates for Board membership for the upcoming term (2026–2028)

The Board reviewed the list of candidates for the fourth electoral term (2026–2028). After verifying that all candidates meet the membership requirements in accordance with applicable laws and regulations, the following nominations were approved:

1. Mishal Ali Al Helo – Unit P-004 – Nomination Date: 12 January 2026
2. Saud Ahmed Al Khayyat – Unit L-182 – Nomination Date: 12 January 2026
3. Rashid Ali Al Attawi – Unit L-373 – Nomination Date: 13 January 2026
4. Abdullah Murtadha Abdullah – Unit L-507 – Nomination Date: 21 January 2026
5. Dr. Shouqi Abdullah Amin – Unit L-457 – Nomination Date: 26 January 2026
6. Latifa Isa Al Bunoza – Unit L-251 – Nomination Date: 26 January 2026
7. Dana Khamis Al Zayani – Unit L-429 – Nomination Date: 27 January 2026
8. Khatoon Jaafar Abdulrasool – Unit L-298 – Nomination Date: 27 January 2026
9. Mohammed Mahmoud Al Sheikh – representing Amlak Real Estate Company – Nomination Date: 28 January 2026
10. Yazan Sufyan Al Arhayyem – Unit P-088 – Nomination Date: 29 January 2026

The Board resolved to send approval letters to candidates who meet the eligibility criteria and assigned the Association Manager to communicate with the Real Estate Regulatory Authority to obtain the necessary forms for issuing Good Conduct Certificates from the Ministry of Interior.

6. Approval of the agenda and Board reports for the upcoming General Assembly meeting

The Board approved the agenda of the upcoming General Assembly meeting as follows:

1. Approval of the Agenda
2. Ratification of the Minutes of the First and Second Meetings of the Sixth General Assembly
3. Board of Directors’ Report for the Third Term (2024-2026)
4. Approval of the Audited Financial Statements for the years 2024 and 2025
5. Appointment of an External Auditor for the financial years 2027 and 2028
6. Approval of the Association Budget for 2026
7. Approval of the amendments to the RVOA By-Laws
8. Approval of the updated Articles of Association
9. Discharge of the current Board Members from liability for their acts during their term of office
10. Election of the Board Members for the Fourth Term (2026 - 2028)
11. Any Other Business

The Board also approved the list of Board reports to be presented at the General Assembly, to be completed no later than 1 March 2026, as follows:

• Board report on the Ratification of the Minutes of the First and Second Meetings of the Sixth General Assembly
• Board report on the Approval of the amendments to the RVOA By-Laws
• Board report on the Approval of the updated Articles of Association
• Board report on the Discharge of the current Board Members from liability for their acts during their term of office
• Board report on the Approval of the Association Budget for 2026
• Board report on the Appointment of an External Auditor for the financial years 2027 and 2028
• Board report on the Election of the Board Members for the Fourth Term (2026 - 2028)
• Board of Directors’ Report for the Third Term (2024-2026)
• Board report on the Approval of the Audited Financial Statements for the years 2024 and 2025

7. Association Manager’s recommendation regarding reappointment of the current auditor for 2027 and 2028

In light of the expiry of the current auditor’s term (KPMG Fakhro) upon completion of the 2026 audit, the Board reviewed the Association Manager’s recommendation to reappoint the same auditor for 2027 and 2028, based on the following justifications:

• The firm has demonstrated a high level of professionalism and compliance with accounting and auditing standards.
• Continuity with the current auditor ensures efficiency and speed in completing audit work due to its familiarity with the Association’s operations and financial systems.
• KPMG Fakhro is a leading audit firm with strong local and international reputation and extensive experience.

The Association Manager noted that the audit fees are BD 2,100 for 2027 and BD 2,150 for 2028. Following discussion, the Board approved the recommendation and assigned the Secretary, in coordination with the Association Manager, to prepare the Board report and include the item in the General Assembly agenda.

8. Association Manager’s recommendation regarding a proposal submitted by a company for wastewater treatment at the Riffa Views plant

In relation to a proposal submitted by a company to treat its tanker wastewater at the Riffa Views treatment plant, the Association Manager noted that the wastewater contains mixed substances including oils, posing significant operational and environmental risks that could negatively impact the efficiency and safety of the plant.

The Association Manager recommended not proceeding with the contract due to these risks and advised against entering into any current or future arrangements with companies that do not comply with the plant’s specifications. Following discussion, the Board approved the recommendation.

9. Discussion of the Vice Chairman’s proposal to establish an Advisory Council for the Association

The Board reviewed the proposal submitted by the Vice Chairman to establish an Advisory Council to support the Board by providing opinions and recommendations on matters referred to it, aiming to strengthen governance principles and benefit from the experience of former Board members and knowledgeable residents.

The proposal included the mechanism for forming the Advisory Council, which reports to the Board and is appointed at the beginning of each new Board term, consisting of five (5) members chaired by a Board member. Members would be selected from former Board members and experienced unit owners across various fields.

The proposal outlined the objectives of the Advisory Council, including leveraging experience and expertise, providing advice on strategic and administrative matters, supporting the Board in evaluating initiatives and projects, enhancing institutional continuity, and strengthening communication between successive Boards.

Following discussion, the Board approved the establishment of the Advisory Council, with the Board retaining the authority to regulate its operations, update its composition, amend its framework, or terminate it as deemed appropriate, without prejudice to the powers of the General Assembly or the Board.

10. Discussion of the Association Manager’s proposal to upgrade the sewage tanker reception facility

The Board reviewed the Association Manager’s report regarding the proposal to upgrade the sewage tanker reception facility at the Riffa Views treatment plant. The Association Manager explained that the current setup allows tankers to discharge into the wet well of Pump Station (4), which can only accommodate one tanker at a time, limiting intake capacity to approximately 20 tankers per day (around 378.5 cubic meters).

The Association Manager emphasized that upgrading the facility to handle larger volumes is essential to ensure water security for the community’s green areas, as internal production does not meet peak demand, and external sources are limited or costly, leading to increased water purchase costs and lost revenue from treated water.

The estimated cost of the upgrade is BD 30,000. Following discussion, the Board approved the recommendation, with funding to be sourced from revenues generated from the sale of additional strips or other additional income.

The meeting concluded at 7:20 PM.