The real estate activity, acquiring, selling, building, administering real estate and every similar operation, on its own account. The company may carry out all operations directly or indirectly related to the corporate purpose. The company is authorized to establish branches, affiliated companies, as well as foundations, both in Switzerland and abroad, and to acquire, manage and dispose of participations in other companies. The company is authorized to acquire and encumber funds in Switzerland and abroad for its own use and to achieve the corporate purpose.