Gafisa history

1962 The development and construction companies initiate their operations in São Paulo in 1962.

1997 Gafisa Imobiliária S.A. enters into a partnership with GP Investimentos S.A. through a contribution of resources and capital.

2004 As a result of the corporate restructuring, GP Investimentos S.A takes control of Gafisa.

2005 An affiliate of Equity International becomes holder of approximately 36% of the Company’s share capital through a subscription to new shares.

The beginning of 2006 was marked by the entry of Gafisa in the New Market of Bovespa corporate governance, from the completion of initial public offering of shares of the company.

2007 Acquisition of 60% of Alphaville for R$198.4 million.

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.

2009 Shareholders of Gafisa and Tenda approve a corporate restructuring to consolidate the non-controlling interests of Gafisa in Tenda.

2010 Acquisition of the remaining 40% of Tenda, for a total of 100% of the capital.

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.

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.

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.

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.

2016 Gafisa wins the A’ DESIGN AWARDS, in Milan, with the MN15 project.

2019 Entry of Planner Redwood investment fund.

2020 The Brazilian Antitrust Authority (CADE) approves Gafisa’s merger of 100% shares of Upcon, which will become the Company’s wholly-owned subsidiary.