Acquisition and management of participations and, in compliance with applicable laws (in particular the Federal Act on Acquisition of Real Estate by Persons Abroad), real estate in Switzerland and abroad; may establish branches and subsidiaries, participate in other companies, in particular, in compliance with applicable laws (in particular the Federal Act on Acquisition of Real Estate by Persons Abroad), in real estate companies, as well as, in compliance with applicable laws (in particular the Federal Act on Acquisition of Real Estate by Persons Abroad), acquire, encumber, sell and manage real property, arrange financing for its own account or for the account of third parties, and grant loans, guarantees and sureties to parent, sister and subsidiary companies and third parties.