UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number:	811-08565
Exact name of registrant as specified in charter:	Dryden Global Real Estate Fund
Address of principal executive offices:	Gateway Center 3,
	100 Mulberry Street,
	Newark, New Jersey 07102
Name and address of agent for service:	Deborah A. Docs
	Gateway Center 3,
	100 Mulberry Street,
	Newark, New Jersey 07102
Registrant’s telephone number, including area code:	800-225-1852
Date of fiscal year end:	3/31/2009
Date of reporting period:	06/30/2008

Item 1. Schedule of Investments

Dryden Global Real Estate Fund

SCHEDULE OF INVESTMENTS

as of June 30, 2008 (Unaudited)

Shares		Description	Value
LONG-TERM INVESTMENTS 94.7%
COMMON STOCKS
Australia 8.7%
	550,822	Babcock & Brown Japan Property Trust	$	427,718
	834,400	Commonwealth Property Office Fund		987,877
	1,516,187	DEXUS Property Group		2,005,827
	1,175,761	Goodman Group		3,482,885
	193,272	GPT Group		411,323
	1,619,500	ING Office Fund		1,785,420
	270,376	Lend Lease Corp. Ltd.		2,475,330
	815,551	Reckson New York Property Trust		218,913
	913,086	Stockland		4,718,044
	269,549	Tishman Speyer Office Fund		354,013
	1,043,979	Westfield Group		16,293,256
				33,160,606
Austria 0.5%
	195,580	Immofinanz Immobilien Anlagen AG		2,013,703
Brazil 2.0%
	138,600	Agra Empreendimentos Imobiliarios SA(a)		766,878
	31,600	BR Malls Participacoes SA(a)		299,619
	193,600	Cyrela Brazil Realty SA		2,671,344
	107,351	Gafisa SA		1,848,224
	150,000	Multiplan Empreendimentos Imobiliarios SA(a)		1,749,735
	56,000	Sao Carlos Empreendimentos e Participacoes SA		454,120
				7,789,920
Canada 1.3%
	66,925	Boardwalk Real Estate Investment Trust		2,503,863
	23,100	Calloway Real Estate Investment Trust		444,013
	88,676	Chartwell Seniors Housing Real Estate Investment Trust		799,188
	25,700	Primaris Retail Real Estate Investment Trust		461,476
	48,600	RioCan Real Estate Investment Trust		946,549
				5,155,089
Finland 0.8%
	156,079	Citycon Oyj		784,759
	281,937	Sponda Oyj		2,442,960
				3,227,719
France 3.9%
	17,660	Fonciere des Regions		2,155,155
	7,461	GECINA SA		901,720
	45,000	Klepierre		2,256,005
	41,570	Unibail-Rodamco		9,572,643
				14,885,523
Germany 0.3%
	50,357	DIC Asset AG		1,271,763
Hong Kong 11.2%
	637,776	Cheung Kong Holdings Ltd.		8,596,654

	1,200,000	China Overseas Land & Investment Ltd.	1,896,053
	562,469	Hang Lung Properties Ltd.	1,803,421
	558,794	Henderson Land Development Co. Ltd.	3,482,945
	604,000	Hongkong Land Holdings Ltd.	2,560,960
	200,999	Hysan Development Co. Ltd.	551,653
	192,892	Kerry Properties Ltd.	1,013,042
	1,098,220	Link (The), REIT	2,501,444
	3,687,800	New World China Land Ltd.	1,910,765
	990,000	New World Development Co. Ltd.	2,016,249
	4,915,000	Regal Real Estate Investment Trust	1,014,864
	481,931	Sino Land Co.	958,021
	691,935	Sun Hung Kai Properties Ltd.	9,388,788
	655,000	Wharf Holdings Ltd.	2,742,730
	993,000	Wheelock & Co. Ltd.	2,661,669
			43,099,258
Italy 0.1%
	253,557	Beni Stabili SpA	250,813
Japan 13.0%
	228	Japan Prime Realty Investment Corp.	674,219
	219	Japan Real Estate Investment Corp.	2,309,931
	280	Japan Retail Fund Investment Corp.	1,613,787
	727,780	Mitsubishi Estate Co. Ltd.	16,654,946
	659,339	Mitsui Fudosan Co. Ltd.	14,095,207
	393	Nippon Building Fund, Inc.	4,626,360
	259	Nomura Real Estate Office Fund, Inc.	1,948,872
	1,141	NTT Urban Development Corp.	1,493,610
	268,952	Sumitomo Realty & Development Co. Ltd.	5,344,340
	157,000	Tokyo Tatemono Co. Ltd.	1,015,765
			49,777,037
Netherlands 1.3%
	7,813	Eurocommercial Properties NV	370,886
	15,820	Nieuwe Steen Investments Funds NV	410,218
	7,963	Vastned Offices/Industrial	217,074
	19,591	Vastned Retail NV	1,573,446
	23,553	Wereldhave NV	2,473,911
			5,045,535
Singapore 3.4%
	425,000	Allgreen Properties Ltd.	309,250
	1,623,000	Ascendas Real Estate Investment Trust	2,636,309
	500,000	CapitaCommercial Trust	701,922
	642,017	CapitaLand Ltd. (Class A Stock)	2,689,719
	17,673	CapitaMall Trust	38,839
	650,000	CDL Hospitality Trusts	840,836
	240,058	City Developments Ltd.	1,916,159
	820,651	Frasers Centrepoint Trust	717,779
	1,220,000	K-REIT Asia	1,246,408
	87,000	Keppel Land Ltd.	317,166
	64,656	Mapletree Logistics Trust	40,394
	302,000	Singapore Land Ltd.	1,382,867

	147,000	Suntec Real Estate Investment Trust	146,940
			12,984,588
Sweden 1.3%
	148,117	Fabege AB	984,065
	93,757	Hufvudstaden AB (Class A Stock)	900,036
	492,248	Klovern AB	1,523,042
	83,200	Wihlborgs Fastigheter AB	1,490,776
			4,897,919
Switzerland 0.6%
	35,871	PSP Swiss Property AG(a)	2,128,299
United Kingdom 5.4%
	182,769	Big Yellow Group PLC	1,038,480
	367,547	British Land Co. PLC	5,168,611
	182,372	Brixton PLC	869,652
	31,720	Derwent London PLC	634,146
	188,318	Great Portland Estates PLC	1,263,709
	139,030	Hammerson PLC	2,462,548
	257,696	Land Securities Group PLC	6,288,540
	68,396	Liberty International PLC	1,167,302
	227,102	Segro PLC	1,775,751
			20,668,739
United States 40.9%
	31,600	Alexandria Real Estate Equities, Inc.	3,075,944
	90,647	AMB Property Corp.	4,566,796
	56,854	AvalonBay Communities, Inc.	5,069,103
	20,163	BioMed Realty Trust, Inc.	494,598
	82,609	Boston Properties, Inc.	7,452,984
	171,990	Brandywine Realty Trust	2,710,562
	152,872	BRE Properties, Inc.	6,616,300
	108,520	Brookfield Properties Corp.	1,949,678
	104,286	Camden Property Trust	4,615,698
	269,237	CBL & Associates Properties, Inc.	6,149,373
	45,760	Digital Realty Trust, Inc.	1,872,042
	176,309	Douglas Emmett, Inc.	3,873,509
	61,950	Extra Space Storage, Inc.	951,552
	109,384	First Potomac Realty Trust	1,667,012
	187,062	General Growth Properties, Inc.	6,552,782
	69,000	Health Care REIT, Inc.	3,070,500
	145,528	Healthcare Realty Trust, Inc.	3,459,201
	82,157	Home Properties, Inc.	3,948,465
	135,807	Kilroy Realty Corp.	6,387,003
	53,190	Kimco Realty Corp.	1,836,119
	120,449	Macerich Co. (The)	7,483,496
	72,414	Medical Properties Trust, Inc.	732,830
	195,845	Morgans Hotel Group Co.(a)	2,017,204
	21,700	Nationwide Health Properties, Inc.	683,333
	108,997	Pennsylvania Real Estate Investment Trust	2,522,191
	189,800	ProLogis	10,315,630
	39,693	Public Storage, Inc.	3,206,797
	83,523	Regency Centers Corp.	4,937,880
	175,001	Simon Property Group, Inc.	15,730,840
	75,040	SL Green Realty Corp.	6,207,309

	73,125	Sovran Self Storage, Inc.		3,039,075
	79,185	Strategic Hotels & Resorts, Inc.		741,963
	235,255	U-Store-It Trust		2,811,297
	32,267	UDR, Inc.		722,135
	115,590	Ventas, Inc.		4,920,666
	127,659	Vornado Realty Trust		11,233,992
	104,532	Weingarten Realty Investors		3,169,410
				156,795,269
		TOTAL LONG-TERM INVESTMENTS (cost $394,532,213)		363,151,780
SHORT-TERM INVESTMENT 6.1%
AFFILIATED MONEY MARKET MUTUAL FUND
23,339,533		Dryden Core Investment Fund - Taxable Money Market Series(b) (cost $23,339,533)		23,339,533
		TOTAL INVESTMENTS(c)—100.8% (cost $417,871,746)(d)		386,491,313
		Liabilities in excess of other assets —(0.8)%		(3,211,403	)
		NET ASSETS —100%	$	383,279,910

The following abbreviation is used in portfolio descriptions:

REIT Real Estate Investment Trust

(a) Non-income producing security.

(b) Prudential Investments LLC, the manager of the Portfolio also serves as manager of the Dryden Core Investment Fund-Taxable Money Market Series.

(c) As of June 30, 2008, 28 securities representing $54,390,013 and 14.2% of the total market value were fair valued in accordance with the policies adopted by the Board of Trustees.

(d) The United States federal income tax basis of the Portfolio’s investments and the net unrealized depreciation as of June 30, 2008 were as follows:

Tax Basis of Investments	Appreciation		Depreciation			Net Unrealized Depreciation
$423,885,708	$	14,309,441	$	(51,703,836	)	$	(37,394,395	)

The difference between the book basis and the tax basis was primarily attributable to deferred losses on wash sales.

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below.

Level 1 - quoted prices in active markets for identical securities

Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 - significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of June 30, 2008 in valuing the Portfolio’s assets carried at fair value:

Valuation inputs	Investments in Securities		Other Financial Instruments*
Level 1 - Quoted Prices	$	332,101,300	—
Level 2 - Other Significant Observable Inputs		54,390,013	—
Level 3 - Significant Unobservable Inputs		—	—
Total	$	386,491,313	—

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the instrument.

As of March 31, 2008 and June 30, 2008, the Portfolio did not use any significant unobservable inputs (Level 3) in determining the value of investments.

The industry classification of investments and liabilities in excess of other assets shown as a percentage of net assets as June 30, 2008 were as follows:

Diversified	30.9	%
Retail Property	23.8
Office Space	14.4
Residential	6.1
Affiliated Money Market Mutual Fund	6.1
Industrial Property	5.7
Healthcare Property	3.6
Storage Property	2.9
Real Estate Operation & Development	1.9
Shopping Centers	1.4
Development Companies	1.3
Hotel/Resort & Entertainment Property	1.2
Financial Services	0.7
Real Estate Management / Service	0.6
Real Estate	0.2
	100.8
Liabilities in excess of other assets	(0.8	)
	100.0	%

Notes to Schedule of Investments (Unaudited)

Securities Valuation: Securities listed on a securities exchange (other than options on securities and indices) are valued at the last sale price on such exchange on the day of valuation or, if there was no sale on such day, at the mean between the last reported bid and asked prices, or at the last bid price on such day in the absence if an asked price. Securities traded via Nasdaq are valued at the Nasdaq official closing price (“NOCP”) on the day of valuation, or if there was no NOCP, at the last sale price. Securities that are actively traded in the over-the-counter market, including listed securities for which the primary market is believed by Prudential Investments LLC (“PI” or “Manager”) in consultation with the subadviser to be over-the-counter, are valued at market value using prices provided by an independent pricing agent or more than one principal market maker.

Securities for which market quotations are not readily available, or whose values have been affected by events occurring after the close of the security’s foreign market and before the Fund’s normal pricing time, are valued at fair value in accordance with the Board of Trustees’ approved fair valuation procedures. When determining the fair valuation of securities some of the factors influencing the valuation include, the nature of any restrictions on disposition of the securities; assessment of the general liquidity of the securities; the issuer’s financial condition and the markets in which it does business; the cost of the investment; the size of the holding and the capitalization of issuer; the prices of any recent transactions or bids/offers for such securities or any comparable securities; any available analyst media or other reports or information deemed reliable by the investment adviser regarding the issuer or the markets or industry in which it operates. Using fair value to price securities may result in a value that is different from a security’s most recent closing price and from the price used by other mutual funds to calculate their net asset values.

Market value of investments traded in a foreign currency are translated into U.S. dollars at the current rates of exchange.

Investments in mutual funds are valued at the net asset value as of the close of the New York Stock Exchange on the date of valuation.

Short-term debt securities which mature in sixty days or less, are valued at amortized cost, which approximates market value. The amortized cost method involves valuing a security at its cost on the date of purchase and thereafter assuming a constant amortization to maturity of the difference between the principal amount due at maturity and cost. Short-term debt securities which mature in more than sixty days are valued at current market quotations.

The Fund invests in the Taxable Money Market Series (the “Series”), a portfolio of Dryden Core Investment Fund, pursuant to an exemptive order received from the Securities and Exchange Commission. The Series is a money market mutual fund registered under the Investment Company Act of 1940, as amended, and managed by PI.

Other information regarding the Fund is available in the Fund’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

Item 2. Controls and Procedures

(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.

(b) There have been no significant changes in the registrant’s internal controls or in other factors that could significantly affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

Item 3. Exhibits

Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 – Attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) Dryden Global Real Estate Fund
By (Signature and Title)*	/s/ Deborah A. Docs
	Deborah A. Docs
	Secretary of the Fund

Date August 15, 2008

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)*	/s/ Judy A. Rice
	Judy A. Rice
	President and Principal Executive Officer

Date August 15, 2008

By (Signature and Title)*	/s/ Grace C. Torres
	Grace C. Torres
	Treasurer and Principal Financial Officer

Date August 15, 2008

* Print the name and title of each signing officer under his or her signature.