all real estate operations, namely the construction, purchase, sale, transformation, renovation, operation, management, rental, development, brokerage and promotion of all real estate. The company may also: either on its own account or on behalf of third parties, carry out all financial, commercial, industrial, movable or real estate activities directly or indirectly related to its main purpose; create branches or subsidiaries in Switzerland and abroad; participate in all companies having a direct or indirect relationship with its main purpose; either on its own account or on behalf of third parties, take participations or create joint ventures in any form, in commercial, financial, movable or real estate companies, Swiss or foreign, as well as execute any management mandate; grant loans, advances, guarantees or securities to its direct or indirect shareholders, subsidiaries or third parties, against remuneration or free of charge, guarantee loans subscribed by its shareholders, subsidiaries or third parties, and pledge its assets as security for any claim; undertake any activity directly or indirectly related to its main purpose.