Holding and managing real estate as well as acquiring and trading in plots of land of all kinds. May establish branches and subsidiaries in Switzerland and abroad and participate in other companies in Switzerland and abroad, 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, arrange financing for its own account or for the account of third parties, and grant guarantees and sureties for subsidiaries and third parties.