On its own account, to acquire, encumber, manage and sell real estate in Switzerland and abroad, as well as to participate in real estate companies and enterprises with their registered office and/or activities in Switzerland and abroad, in compliance with the applicable regulations. The company may also carry out promotional and marketing activities in the distribution of products, goods and services of all kinds, as well as their commercialization. It may also carry out activities related to the granting of loans, guarantees, including mortgage guarantees, sureties and warranties, also in favor of third parties, by pledging its movable or immovable assets, excluding, however, the exercise of banking and insurance activities. The company may also, always on its own account, directly or indirectly acquire interests and participations in other industrial, commercial, financial and service companies or enterprises in Switzerland or abroad, in the sector related to the company's purpose or in other sectors, and open branches and subsidiaries in Switzerland and abroad. Finally, the company may carry out all commercial, industrial and financial operations deemed necessary or useful and functionally connected with the company's purpose or aimed at achieving it.