Transaction of real estate business of all kinds, in particular buying, holding, managing, renting, brokering and selling of real estate and properties in Switzerland and abroad, as well as development of real estate projects. Furthermore, by resolution of the Board of Directors, the company may conduct all business that is suitable to promote or facilitate the development of the company and the achievement of its purpose, or that is directly or indirectly related thereto, including financing for its own account or for the account of third parties, entering into guarantees and warranties for subsidiaries and third parties, participating in other companies in Switzerland and abroad, as well as acquiring, holding, brokering, granting, managing, administering and disposing of licenses and other rights of any kind. In addition, by resolution of the Board of Directors, the company may establish branches, agencies and subsidiaries in Switzerland and abroad.