Management, acquisition and sale, administration, management and rental of real estate. May establish branches and subsidiaries in Switzerland and abroad and participate in other companies in Switzerland and abroad, acquire, manage and sell properties, as well as conduct all business that is directly or indirectly related to its purpose, acquire, encumber, sell and manage real estate in Switzerland and abroad, also arrange financing for its own account or for third parties and grant guarantees and sureties for subsidiaries and third parties.