The purchase, holding, sale of real estate, their rental and administration, but not on behalf of third parties or the management of own assets, all in compliance with the applicable laws, both in Switzerland and abroad. The acquisition of participations in commercial and industrial enterprises, also by promoting their establishment, development or transformation through interests and financing. The company may also pledge its assets in favor of third parties. The company may open branches and subsidiaries in Switzerland and abroad and participate in other companies in Switzerland and abroad. The company may also carry out all commercial, financial or other activities that are related to the purpose of the company.