Gafisa is one of the leading companies in the Brazilian real estate market. Its focus is on medium and high-end residential and commercial developments.
Thus, Gafisa operates in construction and real estate development, being known as one of the largest companies in its sector. The company is present in more than 40 cities and 19 Brazilian states, having delivered over 1,200 residential, commercial, and hotel developments.
Certainly, one of the reasons why Gafisa is one of the largest in Brazil in its sector is its pioneering spirit in some projects. For example, it was the first company in the world to create a collaborative building.
It was also the first company in the sector to be listed on the New York Stock Exchange. It also created the first planned neighborhoods and was the first developer to implement the Home & Share concept in Brazil.
In addition to its pioneering spirit, a highlight of the company is the program Viver Bem. In summary, the Viver Bem program aims to provide important information to clients about each phase of the construction of the development, from launch to delivery of the property.
Additionally, the program offers exclusive benefits and advantages. For example, through the program, clients have access to an exclusive shopping club with products from major manufacturers.
Gafisa's journey began in 1954 in Rio de Janeiro when it was founded under the name Gomes de Almeida Fernandes Ltda – GAF. A few years later, in 1962, the company arrived in São Paulo.
In the following two years, it focused on opening its first office and starting its first project in the city. In 1997, Gafisa established a partnership with GP Investimentos S.A, through the contribution of resources and capital.
As a result of this partnership, two companies were formed: Gafisa S.A, which is the current Gafisa, and Gafisa Imobiliária, which became known as Cimob Companhia Imobiliária.
Furthermore, as a result of a corporate restructuring, GP Investimentos S.A took control of Gafisa in 2004. The following year, an affiliate of Equity International became the holder of about 36% of the company's capital through the subscription of new shares.
In 2006, the company's IPO occurred, resulting in the dilution of about 47% of its share capital after the offering ended. In 2007, Gafisa became the first company in the sector in Brazil to be listed on the New York Stock Exchange with Level III ADR.
In 2008, there was a business combination between Gafisa and Tenda. Thus, FIT, a wholly-owned subsidiary of Gafisa, was incorporated by Tenda. As a result, Gafisa received 60% of Tenda's total share capital with voting rights.
The following year, the shareholders of Gafisa and Tenda approved a corporate restructuring aimed at consolidating Gafisa's non-controlling interest in Tenda. Thus, Tenda became a wholly-owned subsidiary of Gafisa.
Subsequently, in 2010, Gafisa acquired the remaining 40% of Tenda and came to own 100% of its capital. In 2011, there was a new follow-on offering from Gafisa, where Equity International took the opportunity to sell the remaining portion of its stake in the company.
The following year, Gafisa began a turnaround plan aimed at reducing debt, improving margins, focusing on cash generation, adjusting the capital structure, and reducing exposure to unprofitable markets and businesses.
Later, in 2019, the Planner Redwood Investment Fund entered, and in 2020, CADE approved Gafisa's acquisition of all shares issued by Upcon, which will become a wholly-owned subsidiary of the company.
Finally, in 2021, Gafisa strategically divided into business units: Developer and Builder, Viver Bem, Properties, and Capital.
