all activities in the real estate sector, in particular the acquisition, sale, holding, rental, management, brokerage and transformation of real estate, as well as the acquisition of participations in all companies related thereto, with the exception of all operations prohibited by the LFAIE; the operation of restaurants, cafes, bars, beverage outlets and all other similar establishments, including the operation of franchises and shops. Furthermore, it may carry out, either on its own account or on behalf of third parties, all financial, commercial, movable or immovable transactions directly or indirectly related to its purpose and may establish branches and subsidiaries in Switzerland and abroad.