Acquisition and sale of real estate as well as its development and management. The company can acquire, sell and manage properties, establish branches and subsidiaries in Switzerland and abroad, participate in other companies in Switzerland and abroad, grant loans or other financing to its direct or indirect subsidiaries and shareholders, including their direct or indirect subsidiaries, affiliated companies and third parties, on its own account or on behalf of third parties, and provide collateral of any kind for the liabilities of such companies, including by way of pledges or fiduciary transfers of the company's assets, guarantees and warranties of any kind, whether remunerated or not.