The purchase, sale, management, administration, construction, renovation and encumbrance of real estate both in Switzerland and abroad, as well as the purchase and sale of movable assets in general. The installation, construction, design and execution of sanitary and heating systems, the performance of all activities related to the operation of a general construction company. It may acquire, sell and manage participations in other real estate, commercial, industrial, financial and any other type of companies both in Switzerland and abroad. The company may establish branches or subsidiaries both in Switzerland and abroad.