The purchase, sale, holding, construction, renovation and rental of real estate, as well as the administration and management of the company's real estate, excluding those of third parties. The company may, in Switzerland and abroad: carry out all activities, including commercial and financial transactions, in direct or indirect relation to the company's purpose; take direct or indirect participations in other companies and enterprises in the sector related to the company's purpose or in other sectors; contract and grant loans; provide guarantees of any kind, also in favor of third parties; establish branches and subsidiaries.