# Gafisa

Gafisa (formerly Gomes de Almeida Fernandes Imobiliária Sociedade Anonima) is the fourth largest Brazilian residential construction and real estate company, after Cyrela Brazil Realty, PDG S.A. MRV Engenharia and Brookfield Incorporações. It is based in São Paulo and is present in various cities of Brazil. Gafisa was founded in 1954; Gafisa's predecessor company is the Cimob Companhia Imobiliária (formerly known as Gafisa Participações S.A.), from whom Gafisa S.A. inherited its brand name, assets, liabilities, and market position.

## History

Gafisa is a company that operates in the real estate sector, specializing in high-luxury residential condominiums, commercial buildings, flats, and shopping centers. It has a portfolio of over 950 enterprises, totaling approximately 10 million square meters of built area.
The company was founded in 1954 in Rio de Janeiro as "Gomes de Almeida Fernandes Ltda" and later became the property of Gafisa at the end of the 80s. In 1997, it underwent a transformation through an association with GP Investments, resulting in its current name, Gafisa SA. Additional changes occurred in 2006 when Gafisa received a major shareholder, Equity International Properties (EIP), which is a North American real estate investment company with expertise in Latin America. EIP is owned by Equity Group Investments (LLC), controlled by Samuel Zell. Gafisa is headquartered in São Paulo and operates in various cities throughout the country.
In 2004, Gafisa established the Board of New Business to focus on expanding into markets beyond the Rio-São Paulo region.
At the beginning of 2006, Gafisa joined the New Market of Bovespa corporate governance following its initial public offering of shares.
In 2007, Gafisa conducted a public offering of new shares, this time on the New York Stock Exchange (NYSE), becoming the first Brazilian residential real estate company to be listed on the NYSE. This milestone enhanced its position as a company committed to global standards and recognized for financial and operational excellence.
Also in the first quarter of 2007, following the diversification of regional and residential products, the company strengthened the commitment to serve the segment of low income through the establishment of Fit Residencial, subsidiary of Gafisa ventures that will develop a low price in urban areas. The first release, the Fit Jacana, occurred in March.
In 2014, Gafisa was recognized as one of the Most Admired companies by Carta Capital magazine in the construction and development segment. The company is also included, for three consecutive years, in Exame magazine's Melhores & Maiores ranking.
The Gafisa also signed a joint venture (JV) with Odebrecht, Brazil's largest engineering and construction, training of District New Ventures Real Estate. The new company will develop residential projects in large scale in the horizontal segment of people outside metropolitan areas.
The Gafisa consolidates its position of leadership in the segment of middle and upper middle class and is now a more geographically diversified construction company of Brazil. The conclusion of the first phase of the acquisition of Alphaville further strengthened this position, expanding its presence in 18 states and 40 cities.