Occupied Area : The areas, which are under the contract liability of a tenant or which are being used by the property owner.

Occupancy Rate : The rate of total occupied area to the total rentable area. It is calculated by dividing the total occupied area in m size to total rentable m size.

Occupancy Permit (Usage Permission of the Building) : The document, which is given by the municipality after the auditing of the suitability of the building to the approved project.

Operating Expense : The expenses of the building, such as, security, common area cleaning, heating & cooling, maintenance & repair etc. These are referred to as the common expenses.

Occupiers : The companies of the current users of the building.

Out of the Central Business District : The areas, where central business areas are dense but which are demanded less.

Office Building : On the contrary, to production, storage and other purposes, this is the commercial building type, which is only used basically for office (business) purposes.

Off - Site Servicing Cost : Off-site servicing costs are those incurred in bringing major trunk services, roads and power to the perimeter of the site to be developed and would include contributions to improve major municipal sanitary, storm and water supply systems.

On - Site Servicing Cost : On-site servicing costs are those development costs associated with a specific parcel of land within the boundaries of a site, such as internal roadways and curbs, sanitary, storm sewers, water mains and utility systems.

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