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Source: Enfoque

History

  1. 1954

    Gomes de Almeida Fernandes Ltda. – GAF is formed in 1954 to operate in the Rio de Janeiro real estate market.

  2. 1962

    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.

  3. 1997

    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.

  4. 2004

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

  5. 2005

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

  6. 2006

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

  7. 2007

    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.

  8. 2008

    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.

  9. 2009

    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.

  10. 2010

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

  11. 2011

    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%.

  12. 2012

    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.

  13. 2013

    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.

  14. 2014

    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.

  15. 2016

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

  16. 2019

    Entry of Planner Redwood investment fund.

  17. 2020

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

  18. 2021

    Gafisa completes 67 years and is strategically split into business units: Incorporadora e Construtora (Developer & Builder), Viver Bem, Propriedades (Properties), and Capital.