Holding and managing real estate and participations, providing administrative services, acquiring and managing participations in other companies in Switzerland and abroad, buying, selling, building, renting, managing and brokering real estate as well as providing all related services and providing general administrative services; may establish branches and subsidiaries, participate in other companies, acquire, encumber, sell and manage real estate, arrange financing for its own account or for third parties, and grant guarantees and sureties for subsidiaries and third parties.