Real Estate closed-ended funds in Greece take the legal form of a Real Estate Investment Company R.E.I.C.

The REIC is a special type of a Societe Anonyme (SA) company (a Greek stock corporation). Its exclusive purpose is to manage an asset portfolio consisting of real estate (mainly), securities and cash.

The operations of a REIC are primarily governed by the provisions of articles 21 to 31 of Law 2778/1999, as amended and supplemented by Law 2892/01, Law 2992/02, Law 3522/2006, Law 3581/2007, Law 3697/2008 and Law 4141/2013.

The institutional framework of the REICs is also subject to various regulatory provisions, which have been issued by the Hellenic Capital Market Commission.