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What This Means

O1. Deliver OTR On Time, On Budget, On Brand

This objective focuses on the successful completion of the OTR (OXO The Residence) project - a flagship development that represents OXO's commitment to quality, efficiency, and brand excellence. Delivering "on time, on budget, on brand" means:

• On Time: Meeting all construction milestones and handover deadlines without delays that could impact owner commitments or market positioning.
• On Budget: Maintaining strict financial discipline throughout the project lifecycle, ensuring costs don't exceed projections while still achieving profitability.
• On Brand: Ensuring every aspect of OTR reflects OXO's standards for design, quality, and experience - from materials and finishes to operational readiness.

KR1. Deliver OTR completion and handover on time

This key result measures the timely completion of all construction phases and the successful handover to owners and OXO Hospitality Management. It includes:

• Meeting the final completion date for construction
• Obtaining all necessary certifications and permits
• Completing defect rectification within agreed timelines
• Handing over units to owners as per contractual agreements
• Ensuring operational readiness for OHM to begin management

KR2. Maintain cost within budget and take profit

This key result ensures financial success of the OTR project by:

• Keeping all development costs within the approved budget
• Managing contractor payments and material costs effectively
• Controlling change orders and variations
• Achieving the targeted profit margin for ORE Development
• Demonstrating strong project management and financial discipline that can be replicated in future developments

Together, these measures ensure OTR becomes a successful case study for OXO's development capabilities and sets the standard for future projects.