Excluding operations prohibited by the Federal Act on the Acquisition of Real Estate by Foreigners (LFAIE), the purchase, sale, operation and rental of properties and land, as well as the construction, renovation and refurbishment of properties and all related operations; the company may also, excluding operations prohibited by the Federal Act on the Acquisition of Real Estate by Foreigners (LFAIE), carry out all commercial, financial, movable and immovable transactions directly or indirectly related to its corporate purpose, establish subsidiaries and branches in Switzerland, acquire interests in other companies, grant or receive loans, guarantees and securities from its shareholders, subsidiaries or third parties, and take all measures that appear appropriate to promote its corporate purpose or are related thereto.