Purchase and sale as well as management of real estate, furthermore trading in goods of all kinds and holding and managing of participations and securities. May establish branch offices and subsidiaries in Switzerland and abroad, participate in other companies in Switzerland and abroad, 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 provide guarantees and sureties for subsidiaries and third parties.