The purpose of the company is the purchase and sale, rental and management of real estate, as well as the construction of residential and commercial buildings on its own account and on behalf of third parties. The company may establish branches and subsidiaries in Switzerland and abroad and participate in other companies. The company is authorized to acquire, encumber, sell and manage real estate in Switzerland and abroad. Furthermore, the company may conduct all business that is suitable to promote the development of the company and the achievement of its purpose.