Real estate transactions within Switzerland, including purchase and sale, brokerage, marketing and management of real estate, project management specific to real estate, as well as the use of and participation in franchise business models; may participate in other companies, establish branches and subsidiaries, acquire, sell, manage and administer securities, provide financing for its own account or for the account of third parties, take out and grant loans, provide guarantees and other securities for subsidiaries and third parties, and acquire, manage and exploit intellectual property rights.