Please be informed that service charge invoices for the first quarter of the year 2023 have been issued. and all Homeowners who wish to pay the service charge for the full year in advance are entitled a 5% discount, if payment is made on or before February 19, 2023.

The RVOA Board of Directors has reviewed and agreed the association’s budget of BD1.4 million for the year 2023, which is an increase of 16.5% compared to the 2022 budget. This increase is due to the increases in rates charged by external service providers and the maintenance cost required for the association’s infrastructure facilities and assets. 

Accordingly, the service charge rate for 2023 will be BD3.500 per square meter of built-up area. This increase is within the 10% allowable increase as per Resolution No. (1) of 2020 Regulating Exercising of the Pre-emption Right in the Units Owned Commonly within the Joint Properties.

The Board of Directors of the Owners’ Association is pleased to inform homeowners that the increase in the service charge for 2023 will be covered from the surplus of BD122,000 achieved from the association’s budgeted expenditure for the fiscal year ended December 31, 2020. Therefore, the effective service fee rate for 2023 will be BD 3.200 per square meter.

Approval of the Association’s budget for fiscal 2023 will be included for approval in the agenda of the next General Assembly meeting which is scheduled to be held at the end of February 2023.

As for the land units, and as decided in the General Assembly held on April 24, 2021, service charge will be calculated on these lands starting from the year 2023, at the rate of 20% of the original built-up area of the unit, invoices will be sent to the Homeowners of these lands during the next week.