Beluga Immobilier SA

purchase, sale, brokerage, renovation, maintenance, management of real estate, sub-letting of furnished apartments and all other activities related to real estate, provided that these activities are not subject to the Federal Act on the Acquisition of Real Estate by Foreigners of December 16, 1983 (LFAIE); provision of services as general contractor, project manager and construction manager. Furthermore, it may carry out, either on its own account or on behalf of third parties, all financial, commercial, movable or immovable transactions directly or indirectly related to its purpose and may participate, in any form, in similar companies, in particular by acquiring an interest in similar companies. The company may also establish branches and subsidiaries in Switzerland and abroad.