Some key facts about the economic environment of construction industry are explained. It is shown that construction industry is very heterogeneous and has changed drastically during the recent years due to a rapidly moving commercial environment. Two examples of todays’s use of virtual construction tools in construction projects are presented. The first example is the document control for a large international project. The second is the application of 4D modelling in the preconstruction phase of a dam project. It is shown that virtual construction, is a major international trend that currently takes up speed. Some generic industry needs for Research and Development which aims at short and medium term results are presented