The purchase, sale of real estate exclusively for commercial purposes, the construction, management, promotion, administration and brokerage of all real estate. The company may also carry out, either for its own account or for the account of third parties, all commercial, movable and financial operations, directly or indirectly related to its purpose, in whatever form, including in the form of participations. The company may open permanent establishments, branches and subsidiaries both in Switzerland and abroad. Furthermore, it may found or acquire any enterprise pursuing an analogous or complementary purpose. The company may grant loans or any guarantees either to its shareholders or to third parties.