The real estate activity in general, namely the construction, purchase, sale and administration of its own real estate, both in Switzerland and abroad, as well as any related and similar operations. The company may carry out all operations directly or indirectly related to the purpose of the company, grant and receive loans. It may acquire participations in other companies. The company is also authorized to acquire and encumber land, both in Switzerland and abroad, for its own use and in pursuit of the purpose of the company.