to invest in real estate construction for residential purposes in Switzerland, particularly in Geneva and Zurich. The Company may: engage in any financial, commercial or industrial activity, whether movable or immovable, directly or indirectly related to its purpose; create branches or subsidiaries, take participations in, and more generally participate in, all companies and entities having a direct or indirect relationship with its purpose; carry out, either on its own account or on behalf of third parties, all financial, commercial, movable or immovable transactions (excluding transactions subject to authorization under the LFAIE) directly or indirectly related to its purpose or likely to promote it, in particular, when permitted by law, acquire, manage, operate and sell real estate; and grant loans or other direct or indirect financing to its direct or indirect subsidiaries as well as to any other company in the group, including its direct or indirect shareholders and their direct or indirect subsidiaries, and may also guarantee in any way their obligations to third parties, including through pledges, assignments or transfers for security or guarantees of any kind, remunerated or not, even if these guarantees and securities exclusively serve the interests of the direct or indirect shareholders or other members of the group. Furthermore, it may operate or associate with the companies mentioned above in cash pooling/centralization of net liquidity, including periodic balance adjustments. Finally, it may act as guarantor to creditors for debts contracted by its direct or indirect subsidiaries as well as by any other company in the group, including its direct or indirect shareholders and their direct or indirect subsidiaries. In addition, the Company may acquire, use, operate and defend the intellectual property rights of/for the group of companies to which it belongs.