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Property and technology companies led by Stanhope, Rotch and Microsoft have signed an agreement to form a consortium to provide a new electronic resource for the construction industry.

'Asite' will, the consortium claims, be an online exchange set up to share best practice and enable the construction industry to deliver projects faster, at lower cost and to a higher standard. Stanhope director and Asite chairman Peter Rogers said: 'For years people have been talking about the need to improve construction. The Internet now gives us an opportunity to address many of the industry's problems.' Early next year the consortium will launch a private pilot test site for a group of industry participants, followed by a launch to the rest of the industry in the second quarter of 2001. The website is at www.asite.com

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