The Arab Direct Real Estate Investment Company - an Egyptian joint stock company - established the Arab Direct Real Estate Investment Fund under license No. 257 issued by the General Authority for Financial Supervision on 24/2/1999 as a first issue by the provisions of the Money Market Law No. 95 of 1992 and its executive regulations. The size of the fund as a first issue is 200 million pounds distributed on 200 thousand investment documents. The face value of the document is one thousand Egyptian pounds. The Arab Real Estate Investment Fund Company subscribed to twenty thousand documents, including the amount of twenty million Egyptian pounds upon establishment. The rest of the documents were issued by 180 thousand documents for the direct subscription. Other than the public offering. The documents are equal in all rights and obligations, and the shareholders bear the profits and losses resulting from the investments of the fund, each in proportion to the documents it owns. The number of subscribed documents reached 120,000. The management of the fund was entrusted upon incorporation to the Egyptian Angelo Fund for Investment Funds Management (Investment Manager) and according to the contract of the Arab Real Estate Investment Fund Company with Prime Investment for Financial Investment Management the management of the investment fund was transferred to it and on January 26, 2012, the management of the fund was transferred to Amwal Investments Finance in accordance with the contract concluded with the Real Estate Fund Company. The fund fiscal year begins on January 1st and ends in late December of each year.