Acquiring, holding, developing, managing, letting, leasing and disposing of properties of all kinds. May acquire, hold, manage, encumber and dispose of real estate in Switzerland and abroad, rent out commercial and residential spaces, conduct financing transactions, grant loans to third parties as well as to shareholders of the company and group companies, and provide security of all kinds for their liabilities to third parties, including pledges, security assignments and guarantees, even if these loans or securities are granted in the exclusive interest of their shareholders or other group companies and are provided free of charge. Furthermore, establishing branches and subsidiaries in Switzerland and abroad, participating in or merging with other companies in Switzerland and abroad, and conducting all business that is directly or indirectly related to its purpose or is beneficial to it.