Management and renovation of buildings as well as the acquisition and sale of all real estate. The company may undertake all mobile and real estate operations and conclude all contracts that are of a nature to develop its purpose or relate directly or indirectly thereto; exercise any financial, commercial or industrial activity directly or indirectly related to its purpose; create branches or subsidiaries in Switzerland and abroad; participate in all enterprises having a direct or indirect relation to its purpose; grant loans or guarantees to partners or third parties, if this promotes its interests.