The purchase, sale, holding, development, management, administration and marketing in the field of real estate, with the exception of real estate transactions prohibited by federal laws and ordinances on the acquisition of real estate by foreigners. The company may, in Switzerland and abroad, establish branches, participate in other companies, acquire or establish companies with a similar or identical purpose, carry out all economic, industrial, financial, movable and immovable transactions and conclude all contracts that serve to develop the company's purpose or are directly or indirectly related to it. The company may grant loans or guarantees if it serves its interests.