The Vocabulary of Real Estate Business was first published in 2001. It will now be updated by the Finnish Terminology Centre TSK due to changes for instance in legislation. Approximately a hundred concepts will be revised and updated, and 30-50 new concepts will be added to the vocabulary.
The terminology project is coordinated by the Finnish Association of Building Owners and Construction Clients (Rakli), which also ordered the updating of the vocabulary. The Terminology Centre is responsible for the terminology work, and a wide variety of actors on the estate field participate in the working group. The work will be conducted in field-specific groups one field at a time.
The Vocabulary of Real Estate Business is targeted at the actors of the field. The updated vocabulary will include term recommendations in Finnish and equivalents in English, as well as definitions in Finnish and English. The project will be finished by the end of 2011.