The company's purpose is the purchase, sale, construction, renovation, operation and management of all real estate. The company may engage in any financial, commercial or industrial activity, whether movable or immovable, directly or indirectly related to its purpose, participate in all companies having a direct or indirect relationship with its purpose, grant loans or guarantees to shareholders or third parties, if it serves its interests. The company may establish branches in Switzerland and abroad, participate in other companies in Switzerland and abroad, acquire companies with an identical or similar purpose, or merge with such companies, acquire or sell real estate, carry out all operations and conclude all contracts suitable for developing and expanding its purpose or directly or indirectly related thereto, grant loans or guarantees to shareholders or third parties, if it serves its interests.