Both in Switzerland and abroad, the purchase, sale, development, construction, operation, rental and administration of all real estate. It may also, inter alia, carry out for its own account or for the account of third parties, all financial, commercial, industrial, movable and immovable transactions in Switzerland and abroad, directly or indirectly related to the main purpose; conclude transactions with, in particular, its direct or indirect shareholders and other companies; grant loans and guarantees of any kind, including pledges, assignments as security, assignments as guarantee, guarantees and sureties, with or without consideration.