Acquisition, ownership and trading of real estate in Switzerland and abroad. May develop and encumber plots of land, manage properties and perform all related activities, participate in other companies, acquire, manage, broker or sell licenses, patents and other intangible assets, grant loans to persons closely related to the company as well as to third parties, establish branches and subsidiaries in Switzerland and abroad, and in general carry out all commercial, financial and other activities that are connected with the purpose of the company.