Acquisition and sale of properties (built and unbuilt), in particular in the municipality of Emmen (Canton of Lucerne), for the purpose of development with large shopping centers; granting of building rights to third parties; rental of individual parts of shopping centers; operation of shopping centers, excluding the operation of own retail stores or department stores; acquisition, management, encumbrance and disposal of real estate as well as copyrights, patents and licenses; financing; provision of guarantees, sureties and other securities in favor of affiliated companies or third parties.