The purpose of the company is the development, promotion, construction, renovation, conversion, purchase, sale, administration, and management of real estate, both in Switzerland and abroad, exclusively on its own account and not on behalf of third parties. It may engage in all commercial, financial, or other activities that are directly or indirectly related to its purpose; it may establish branches and subsidiaries in Switzerland and abroad, acquire shares in other companies or businesses, as well as acquire, hold, and dispose of movable and immovable property within the limits permitted by law.