The operation, transformation and development of real estate. It may grant loans to third parties or to its shareholders, in the short or long term, with or without security, create a pledge in favor of a third party, or create mortgage certificates to cover credit facilities granted to its shareholders. The company may participate in other companies and establish branches and subsidiaries, both in Switzerland and abroad. It may acquire, hold and dispose of real estate and, in general, carry out any activity directly or indirectly related to its purpose.