COnstruction and Real Estate NETwork (CORENET)

COnstruction and Real Estate NETwork (CORENET) is the flagship information technology (IT) project undertaken collaborativel y by various government agencies of Singapore to improve the productivity and performance of the construction and real estate sectors. It is a comprehensiv e network system consisting of a series of IT systems and services that allows seamless and expedient exchange of information between relevant government agencies and parties involved in the construction and real estate industry. Provides an overview of the concept and services offered by CORENET, and then evaluates how this system could bring about changes to the real estate and construction industry in Singapore. Three areas of IT-induced revolutions can be expected in the real estate and construction processes, if the CORENET system can be successfully implemented and accepted by users. First, compression of time and process is one of the possible outcomes that can be facilitated via the integrated platform of CORENET. Second, knowledge contents would receive growing attention from the prospective CORENET users. Third, reconfiguration of business concept and scope may take place, which may, as a result, lead to the emergence of a new business model and the creation of ample business opportunities for the CORENET users that possess the first-mover advantage.