<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001043433
<NAME> MERRILL LYNCH REAL ESTATE FUND, INC.
<SERIES>
<NUMBER> 001
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-START> JAN-01-2000
<PERIOD-END> JUN-30-2000
<INVESTMENTS-AT-COST> 48970342
<INVESTMENTS-AT-VALUE> 45592790
<RECEIVABLES> 549011
<ASSETS-OTHER> 86687
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 46228488
<PAYABLE-FOR-SECURITIES> 231225
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 329925
<TOTAL-LIABILITIES> 561150
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 63390538
<SHARES-COMMON-STOCK> 1146557
<SHARES-COMMON-PRIOR> 858717
<ACCUMULATED-NII-CURRENT> 581342
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (14925942)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (3378600)
<NET-ASSETS> 8812970
<DIVIDEND-INCOME> 1450139
<INTEREST-INCOME> 33127
<OTHER-INCOME> 0
<EXPENSES-NET> (553041)
<NET-INVESTMENT-INCOME> 930225
<REALIZED-GAINS-CURRENT> (2790894)
<APPREC-INCREASE-CURRENT> 6159295
<NET-CHANGE-FROM-OPS> 4298626
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (103307)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 592141
<NUMBER-OF-SHARES-REDEEMED> (318319)
<SHARES-REINVESTED> 14018
<NET-CHANGE-IN-ASSETS> 4868357
<ACCUMULATED-NII-PRIOR> 208577
<ACCUMULATED-GAINS-PRIOR> (12135048)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 178807
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 553041
<AVERAGE-NET-ASSETS> 6894481
<PER-SHARE-NAV-BEGIN> 7.02
<PER-SHARE-NII> 0.26
<PER-SHARE-GAIN-APPREC> 0.52
<PER-SHARE-DIVIDEND> (0.11)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.69
<EXPENSE-RATIO> 1.94
</TABLE>
