all real estate activities, investments, management, rental, purchase, sale, brokerage of all real estate, as well as construction, promotion and development of real estate, provision of services and advice in the field of real estate in Switzerland and abroad, real estate transactions in Switzerland, these will be limited to exclusively commercial use. The Company may: either on its own account or on behalf of third parties, carry out all financial, commercial, industrial, movable and immovable transactions in Switzerland and abroad, directly or indirectly related to the main purpose, with regard to real estate transactions in Switzerland, these will be limited to exclusively commercial use; acquire direct or indirect participations in all companies or enterprises, with regard to real estate participations in Switzerland, these will be limited to exclusively commercial use; establish branches or subsidiaries in Switzerland and abroad; grant loans or guarantees to subsidiaries, shareholders or third parties.