History

The development and construction companies initiate their operations in São Paulo in 1962. Over the next two years its first office opens and the first development in the city begins.

Gafisa Imobiliária S.A. enters into a partnership with GP Investimentos S.A. through a contribution of resources and capital. As a result, two companies are formed: Gafisa Imobiliária, which later changes its name to Cimob Companhia Imobiliária, and Gafisa S.A. – current Gafisa.

As a result of the corporate restructuring, GP Investimentos S.A takes control of Gafisa.

An affiliate of Equity International becomes holder of approximately 36% of the Company’s share capital through a subscription to new shares.

Gafisa is listed through an initial public offering (IPO), resulting in a free float of approximately 47% of its share capital after the offering.

Acquisition of 60% of Alphaville for R$198.4 million. The Company also becomes the first and only company in Brazil from the sector to be listed on the New York Stock Exchange (NYSE) with Level III ADRs.

Business Combination of Gafisa and Tenda: the two companies conclude a business combination in which Tenda incorporates the wholly owned subsidiary of Gafisa (FIT). As a result, Gafisa received 60% of all of Tenda’s voting shares and Tenda incorporated FIT.

Shareholders of Gafisa and Tenda approve a corporate restructuring to consolidate the non-controlling interests of Gafisa in Tenda. As a result, Tenda becomes a wholly owned subsidiary of Gafisa.

Acquisition of the remaining 40% of Tenda, for a total of 100% of the capital.

New Follow-On: primary public offering in the form of American Depositary Shares results in an increase of over R$1 billion in the Company’s capital. Equity International sells its remaining stake in the Company as part of the operation. Afterwards, no single shareholder holds more than 5% of the share capital – full corporation. An additional 20% of Alphaville is acquired during the year, bringing the stake to 80%.

Start of the turnaround plan designed to reduce the debt, restrict the exposure of the Company to unprofitable markets and businesses, adjust the capital structure, improve margins and to focus on cash generation.

In December, as a result of the turnaround process, the Company concludes sale of 70% of its Alphaville shares to a consortium formed by Pátria Investimentos and Blackstone Real Estate for R$1.54 billion. Gafisa continues to hold the remaining 30% stake.

Gafisa completes 60 years, reinforces its values and quality, and repositions the business to focus on its target market: the middle and upper classes of São Paulo and Rio de Janeiro. Additionally, began studies for a potential spin-off between Gafisa and Tenda.

Gafisa wins the A’ DESIGN AWARDS, in Milan, with the MN15 project.

Entry of Planner Redwood investment fund.

The Brazilian Antitrust Authority (CADE) approves Gafisa’s merger of 100% shares of Upcon, which will become the Company’s wholly-owned subsidiary.

Gafisa celebrates its 67th anniversary with the launching of TOM Delfim Moreira, in the last square of Leblon, with an iconic and exclusive project, breaking the limits of the square meter price in Latin America, and in São Paulo, the Tonino Lamborghini – San Paolo Apartaments project, the first branded building in the premium area of Jardins.

Gafisa celebrates its 68th anniversary and announces the important acquisition of Bait, a Rio de Janeiro Real Estate Company that develops high-income projects focused on the south zone of Rio de Janeiro.