Holding, acquisition and sale of real estate, its management, rental, brokerage and appraisal, as well as construction, renovation and refurbishment of buildings. May establish branches and subsidiaries in Switzerland and abroad and participate in other companies in Switzerland and abroad, as well as conduct all business directly or indirectly related to its purpose. Furthermore, in Switzerland and abroad, acquire, encumber, sell and manage land, licenses, patents and other intangible assets, arrange financing for its own account or for third parties, and provide guarantees and sureties for subsidiaries and third parties.