Enforcing "FINANCIAL INVESTMENT SERVICES AND CAPITAL M ARKETS ACT" at February 4. 2009., "indirect investment" was changed "collective investment". This means the activities of acquiring, disposing of, and managing in any way such assets as are valuable for investment with money or similar pooled by inviting two or more persons for such investment, or with a surplus fund under Article 81 of the State Finance Act, without being bound by management, instructions given from time to time by investors or by any fund management entity, and distributing the yields there from to vest in investors or any fund management entity. For the real estate collective vehicle establish, "collective investment business entity" have to registered the real estate collective vehicle with the Financial Services Commission, provide to investment prospectus to investors, And collective investment business entity hold an investment committee usually, It is an deniable fact that nowaday "Real Estate Collective Vehicle" has been growing since the Act was enforced. But it need to more development for the growth yet. Particularly an investment process of establishment of "Real Estate Collective Vehicle" needs to the development more than the present. It is important for the development that "Real Estate Collective Vehicle" has the diversity. But it has some limits to the development because of the nature of the investment property in real estate.