Acquisition, management and disposal of real estate and development and realization of real estate and construction projects. The company may establish subsidiaries and branches in Switzerland and abroad and participate in other companies in Switzerland and abroad. It may grant loans or other financing to affiliated companies and third parties and provide security of any kind for their liabilities, including guarantees, pledges and fiduciary transfers of the company's assets. It may acquire, encumber, manage and dispose of copyrights, patents and licenses of all kinds. Furthermore, it may conduct all business that is suitable to promote the development of the company and the achievement of its purpose.