directly or indirectly, all activities in the field of real estate, in particular the purchase, holding, administration, management, valorization, exploitation, development, construction and sale of real estate properties and projects. The Company may also, in Switzerland or abroad: create subsidiaries and branches, take participations in, and more generally, participate in, all companies and entities having a direct or indirect relationship with its purpose; carry out, either on its own account or on behalf of third parties, all operations directly or indirectly related to its purpose or likely to promote it; and grant loans or guarantees to shareholders, affiliated companies or third parties.