The purchase, sale, exchange and exploitation of real estate in Switzerland and in any other country in the world, as well as investments in securities of all kinds for its own account. The company may also create subsidiaries and branches in Switzerland or abroad, take participations in and, more generally, participate in all companies and entities having a direct or indirect relationship with its purpose. The company may grant loans or any other form of financing to shareholders, companies of the same group or third parties, as well as provide guarantees of any kind, for the direct or indirect benefit of shareholders, companies of the same group or third parties, in particular in the form of guarantees, pledges or securities on the company's assets.