Riffa Views Calls for General Assembly on November 30, 2019
November 12, 2019
Riffa Views BSC, the real estate developer of Riffa Views, has announced that it will convene the first General Assembly of the Riffa Views Owners’ Association (RVOA) on Saturday, November 30th, 2019, at 7pm at Riffa Views International School.
The RVOA’s General Assembly is in accordance with the provisions of Law No. (27) of 2017 with Respect to Promulgating the Real Estate Sector Regulation Law, and Real Estate Regulatory Authority (RERA)’s Resolution No. (7) of 2018 regulating owners associations and joint properties.
The Riffa Views’s owners will participate in the meeting to discuss a number of items on the agenda of the General Assembly, most notably the election of the Board of Directors of the RVOA, the approval of the Articles of RVOA, the approval of Riffa Views Joint Property By-Laws, the review of the financial statements of the RV Real Estate Company, which has been in charge of managing and operating public utilities at Riffa Views since 2012, in addition to the approval of the 2020 general budget.
On the occasion, Yasser Abdulrahman Al-Raee, the Managing Director of Riffa Views BSC, expressed delight at the completion of all the legal and administrative procedures to convene the General Assembly of the RVOA, noting that the RVOA will serve the three real estates, namely The Lagoons, The Oasis and The Park.
Al-Raee stressed the importance of this meeting, which, he said, is within the framework of the efforts exerted by the company for the sake of strengthening the national efforts in Bahrain regarding the regulation of the real estate sector, as part of the kingdom’s policies, as well as economic and social development plans.
He also announced that the Riffa Views Company had finalised all the necessary arrangements for the RVOA’s first General Assembly, and sent invitations to all members to attend.
In this regard, Al-Raee praised the close cooperation and efforts exerted by RERA to facilitate all procedures and answer all inquiries, valuing highly the support enjoyed by the real estate development sector from His Excellency Shaikh Salman bin Abdullah Al Khalifa, President of Survey & Land Registration Bureau (SLRB), Chairman of Board of Real Estate Regulation Authority (RERA), and that of His Excellency Shaikh Mohammed bin Khalifa Al Khalifa Chief Executive Officer (CEO) of Real Estate Regulatory Authority (RERA).
The Managing Director added that a preparatory meeting would be held for Riffa Views’ owners on Saturday November 16th, at the Majlis in Royal Golf Club, to answer all their quires about the RVOA’s General Assembly, including all the procedures to be taken and the voting process during it, to ensure that they are well-informed about the details of the meeting.
The Chairman of the Interim Committee of the Riffa Views Owners Association, Dr. Abdulmajeed Al Awadhi, called on all Riffa Views’ owners to participate in the forthcoming General Assembly to ensure that their points of view are taken into consideration, noting that the meeting will take important resolutions related to the financial, regulatory and administrative procedures related to the development of services, and the management of common areas and parts in Riffa Views, hence the necessity of the participation of a great number of owners.
Al Awadhi commended the efforts exerted by Riffa Views BSC (the developer) since the establishment of the interim RVOA in 2012, adding that the Interim Committee has been in charge of overseeing the management of services and facilities in the Riffa Views’ estates in coordination with the developer of the project, on the one hand, and the owners, on the other.
He praised the on-going close cooperation among all the main components of the Riffa Views, including the developer, the owners and Interim Committee.
The holding of the RVOA’s General Assembly requires the participation of 50% of unit owners, or at least 527 owners, which constitutes the legal quorum for the meeting. If the quorum is not obtained within 60 minutes after the start of the meeting, it will be held again on December 7th, 2019, and will be valid in the presence of any number of owners.
According to the Law and Resolution, owners may participate in the General Assembly through number of ways. They may attend and vote personally on the resolutions, or use voting cards that enable them to express their views by approving or disapproving the resolutions to be taken. They may also vote by proxy – the owner signs a proxy to give the voting power to a trusted person (must be notarized). Moreover, owners can participate by assigning their legal representatives to attend on their behalf, provided that they show a document stating the authorization.
The Board of Directors of the Riffa Views Owners Association will comprise 5 members. All members of the General Assembly shall have the right to run as candidates for the Board of Directors, provided that they meet several conditions. Eligible candidates should be among Riffa Views’ owners and reside in Bahrain. They must be able to demonstrate a record of paying service charge commitments in respect of Riffa Views.
Soon after the completion of the General Assembly and the election of the members of the Board of Directors, the RVOA shall begin the process of registering itself with the Real Estate Regulatory Authority, and open its own bank account.
