developed by novaCITYNETS
COnstruction and Real Estate NETwork (CORENET) is a national strategic initiative under Singapore’s IT2000 Master Plan to re-engineer the fragmented business processes of the industry to achieve a quantum leap in productivity, quality and turnaround time. Championed by the Ministry of National Development (MND) and spearheaded by the Building and Construction Authority (BCA), the CORENET programme involved almost 30 ministry departments, statutory boards and quasi-government organizations.
80 percent reduction in total time to secure construction related permits/licenses
73 percent reduction in number of application forms from 845 (physical) to 231 (electronic)
US$150 million per year in hard cost savings on operational expenses
US$ 1 billion per year estimated savings in investor risk and capital financing cost
World Bank Citation 2009 of CORENET as instrumental to Singapore’s No. 1 ranking in its Doing Business Survey
E-Government Excellence Distinguished Award 2013 for Shared Systems and Services bestowed by Singapore Ministry of Finance and Infocomm Development Authority of Singapore
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