There is a paucity of literature that examines building information modelling (BIM) for asset management within the architecture, engineering, construction and owner-operated (AECO) sector. This paper therefore presents a thorough review of published literature on the latest research and standards development that impact upon BIM and its application in facilities management (FM) during the operations and maintenance (O&M) phase of building usage. The purpose is to generate new ideas and provide polemic clarity geared to intellectually challenge readers from across a range of academic and industrial disciplines. The findings reveal that significant challenges facing the FM sector include the need for: greater consideration of long-term strategic aspirations; amelioration of data integration/interoperability issues; augmented knowledge management; enhanced performance measurement; and enriched training and competence development for facilities managers to better deal with the amorphous range of services covered by FM. Future work is also proposed in several key areas and includes: case studies to observe and report upon current practice and development; and supplementary research related to concepts of knowledge capture in relation to FM and the growing use of BIM for asset management. •For new buildings, research into BIM-FM integration is rare.•A review of developments and opportunities for BIM-FM integration is presented.•Challenges posed include interoperability, performance enhancement and training.•Future work seeks to produce commercial products and record contemporary practice.