Board Meeting no. (5/3/2025) on April 8, 2025

The Board of Directors held its meeting no. (5/3/2025) on April 8, 2025 at 5:00 pm at the headquarters of the Riffa Views Company, and issued its decisions according to the items below:

1. Approval of the Minutes of the Last Meetings

The Board approved the minutes of the previous meetings.

2. Approval by the Urban Planning and Development Authority of the Riffa Views Master Plan

The Board reviewed the letter received from the Urban Planning and Development Authority regarding the approval of the amendment to the Riffa Views Master Plan. The Board commended the efforts of Riffa Views Company in this regard. After discussion, the Board resolved to instruct the Association Manager to circulate a notice to the Association members informing them of the approval of the master plan, outlining the next steps regarding the transfer of ownership of the additional lands purchased by units, and inviting the benefiting units to promptly submit their purchase applications.

3. Monthly Report of the Association Manager for February 2025

The Association Manager presented the monthly report for February 2025, which was discussed and clarified in response to the Board members’ inquiries.

4. Appointment of the Association’s External Auditor for the Fiscal Years 2025 - 2026

The Board listened to a presentation by the Association Manager regarding invitations sent to several audit firms to submit proposals for auditing the Association’s accounts for the fiscal years 2025 and 2026. After discussion, the Board resolved to recommend to the General Assembly the approval of delegating the Board of Directors to contract with KPMG Fakhro to audit the Association’s accounts for the fiscal years ending 31 December 2025 and 31 December 2026, with the Board authorized to negotiate the audit fees with the auditor.

5. Proposal by the Association Manager on Surpluses from the Association’s Budgets (2020–2023)

The Board listened to a proposal from the Association Manager aimed at optimizing the use of surpluses from the audited Association budgets by creating a dedicated Projects Account to which these surpluses would be transferred, to be used in funding development projects overseen by the Association.

After reviewing the details of the audited surpluses for the years 2020–2023, the Board concluded that this proposal is important to reinforce the Association’s objectives in supporting its development projects and serving the common interest. The Board resolved to include this item in the agenda of the upcoming General Assembly and recommend that the General Assembly approve the establishment of the Projects Account and the transfer of surpluses into it.

6. Preparations for the 6th General Assembly Meeting

The Board listened to a briefing by the Association Manager on the preparations for the 6th General Assembly meeting scheduled for 10 May 2025, covering the Board’s reports on agenda items, timelines for sending invitations, and logistical arrangements required for the meeting. After discussion, the Board instructed the Association Manager to present all reports and documents to the Secretary for review and approval prior to circulation to the Association members.

7. Any Other Business

Under this item, the Board discussed the procedures followed for responding to proposals and complaints submitted by Association members and Riffa Views residents. The Association Manager was instructed to circulate these procedures to the Board members for review and comments.

The meeting concluded at 6:45 PM.