Like other countries, Switzerland does not possess a homogenous real estate market. We are involved in a number of regional partial markets, which feature both completely different developments and independent cyclical features, depending on the branch. According to the principle "all business is local", Swiss Estates AG focuses on those markets where it possesses special access and extensive market knowledge. In an initial phase, this was mainly based on the greater Zurich area. In the remaining urban centres of Switzerland, we consult with local experts when evaluation of possible investments is involved.