The purchase, construction, development, administration, rental, financing and sale of real estate, both in Switzerland and abroad, as well as participation in similar companies and the execution of commercial and financial transactions both in Switzerland and abroad. The company may carry out all necessary and suitable securities, real estate and commercial transactions to achieve its corporate purpose and may acquire, for its own account and for investment purposes, participations in other companies and entities in general. The company may open branches and subsidiaries in Switzerland and abroad, as well as acquire, administer and sell real estate.