A hydraulic cement comprising a calcium silicate and at least one phosphate compound. The phosphate compound is included in an amount sufficient to react a major portion of the calcium hydroxide that is produced during hydration of the cement to hydroxyapatite or other calcium phosphates. The phosphate compound is preferably a mono-calcium phosphate. The cement is useful in both bio-medical/dental and engineering applications. The calcium hydroxide is reacted by the phosphate to form hydroxiapatite or other calcium phosphate that is co-precipitated with the calcium silicate hydrate to form a composite-like structure on a nano-scale level. The reduced calcium hydroxide content in the set cement increases its strength and reduces its pH. The hydroxiapatite content and the reduced pH render the cement bio-active and suitable for use in medical and dental implants, for example, for replacement bone and tooth material. Due to its high strength, the cement may also be used for structural/engineering applications.