The purchase, sale, ownership, exchange, rental of all real estate, the construction and operation of all buildings, as well as all related operations. The company may also carry out, either on its own account or on behalf of third parties, all commercial, movable and financial transactions, in direct or indirect relation to its purpose, in any form whatsoever, in particular in the form of participations. The company may create branches in Switzerland and abroad, participate in other companies and conclude all contracts suitable for developing its purpose. The company may grant loans or guarantees to its shareholders or third parties.