Purchase, sale, construction, renovation, rental, management and brokerage of real estate, real estate development as well as all transactions or activities directly related to the purpose of the company. The company may conduct its business both in Switzerland and abroad, on its own account or on behalf of third parties. It may acquire, manufacture, rent or sublet, operate and sell all properties, patents, establishments, machines and equipment that it deems necessary or useful for the realization of its social purpose and carry out all related activities that are conducive to the social purpose (cf. statutes for full purpose).