The paper is based on the scientific outcome of a PhD Thesis. It introduces the generic, model-based, reusable, and extensible conceptual framework to incorporate Facility Management data based within the three-dimensional model-based design and construction of an asset to enable smart applications, which are introduced. The conceptual framework is composed of empirical data from expert interviews, questionnaires, and factual analysis from 13 projects of varied sizes of public and private clients. It shows which phases need which data, who needs them, and which added value can be generated if intelligent data structuring is used at the beginning of the construction project and bridges the gap between requirement and practice. The term “smart application” is introduced.