Purchase, sale, construction, renovation, management, operation, promotion and brokerage of real estate as well as all transactions or activities directly related to the purpose of the company. The company may conduct its activities both in Switzerland and abroad, on its own account or on behalf of third parties. It may acquire, manufacture, rent or sublet, operate and sell all real estate, patents, establishments, machines, equipment that it deems necessary or useful for the realization of its social purpose and carry out all related activities that may favor the social purpose. It may establish branches in Switzerland and abroad, participate in other companies in Switzerland and abroad, acquire companies with an identical or similar purpose or take an interest, by way of contribution, merger, subscription, financial intervention or by any other means, in all companies, associations or enterprises that have a similar or related purpose or that may directly or indirectly favor the extension and development of its purpose. The company may be a debtor of loans or grant financing to any company or individual in the form of loans or any other form, including by way of mortgage, or act as guarantor in their favor.