Gafisa

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Gafisa SA

Type	Sociedade Anônima
Traded as	B3: GFSA3 NYSE: GFA
Industry	Real estate and residential construction
Founded	1954
Headquarters	São Paulo, Brazil
Key people	Gary Garrabrant, (Chairman) Alceu Duilio Calciolari, (CEO)
Products	House-building
Revenue	US$ 183.7 million (2017)
Net income	- US$ 256.5 million (2017)
Number of employees	4,500
Subsidiaries	Tenda
Website	www.gafisa.com.br

Gafisa 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 present in various cities of Brazil. It is in the market since 1954 and specializes in projects of high standard, is also holding a number of other companies. 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 one of the leading companies in the ranking of the largest construction and real residential segment in Brazil, established in the developed markets more than 950 enterprises, among high-luxury residential condominiums, commercial buildings flats and shopping centers, representing approximately 10 million square meters of built area.

Headquartered in São Paulo and operations in other cities of the country, Gafisa was founded in 1954 in Rio de Janeiro, under the name Gomes de Almeida, Fernandes. At the end of the 80s became the Gafisa property and in 1997 from an association with GP Investments, has been called Gafisa SA In 2006 the Gafisa received a major shareholder: the Equity International Properties (EIP), a North American leader in real estate investment in Latin America, which belongs to Equity Group Investments (LLC), controlled by Samuel Zell.

Decided to expand its area of operation and become a national company, in 2004, Gafisa created the Board of New Business to care exclusively for new markets beyond the Rio-São Paulo. As a result of this strategy, the company is already present in Manaus (AM), Salvador (BA), Belém (PA), Fortaleza (CE), Maceió (AL), Goiânia (GO), Porto Alegre (RS), Cuiabá (MT ) in addition to cities in the interior of São Paulo (Itu, Campinas, Santo André) and Rio de Janeiro (Macaé).

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.

In 2007, the Gafisa made public offering of new shares, this time in the New York Stock Exchange (NYSE), which became the first residential real Brazilian listed on NYSE. The event has consolidated its position as a company in line with global standards and global reputation in 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.

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.

References[]