The company's purpose is the acquisition, development, construction, operation, sale, management and pledging of properties or real estate rights. The company may also: a) carry out all commercial, financial, movable or real estate transactions, the latter provided they are not subject to the LFAIE of December 16, 1983; b) take participations in other companies; c) in general, carry out all operations having a direct or indirect connection with the company's purpose in Switzerland and abroad. The company may have subsidiaries or establish branches in Switzerland and abroad.