Acquisition and sale as well as rental and management of real estate, furthermore construction and renovation of real estate of all kinds. May establish branches and subsidiaries in Switzerland and abroad, participate in other companies in Switzerland and abroad, and acquire, establish or merge with similar or related companies, furthermore acquire, manage and sell plots of land, patents and licenses, and enter into all transactions and conclude contracts that are suitable to promote the purpose of the company or are directly or indirectly related to it, also provide financing for its own account or for the account of third parties and grant securities for liabilities of affiliated companies.