The company's purpose is to acquire, encumber, manage and utilize properties. Furthermore, it aims to carry out renovations and conversions on its own account and on behalf of third parties. The company may establish branches and subsidiaries in Switzerland and abroad, participate in other companies in Switzerland and abroad, and conduct all business that is directly or indirectly related to its purpose. The company may acquire, encumber, sell and manage real estate in Switzerland and abroad. It may also provide financing on its own account or on behalf of third parties, and grant securities for liabilities of affiliated companies.