The company's purpose is: all real estate transactions, in particular the acquisition, construction, promotion, sale, holding, administration and management by letting or otherwise of all properties of any kind, excluding all operations prohibited by the Federal Act on the Acquisition of Real Estate by Foreigners of December 16, 1983 (LFAIE). The company may also: a) carry out all commercial, financial or securities transactions; b) take participations in other companies; c) grant loans or guarantees to shareholders or third parties if it serves its interests; d) in general, carry out all operations having a direct or indirect connection with the company's purpose in Switzerland and abroad. The company may have subsidiaries or establish branches in Switzerland and abroad.