A Gafisa intends to clear its stocks of medium-sized products to focus its efforts on a portfolio with assets valued at more than R$10 million, on average, next year, company executives told Reuters, diving once and for all into the high-luxury property market.
Currently, the units of the developer, which is controlled by the businessman Nelson Tanurehave an “average ticket” of around R$7 million, since the company still maintains properties aimed at the upper middle class in its portfolio.
With the sale of these lower-value projects, Gafisa intends to become a company purely focused on the high-end segment, or “absolute luxury”, executives said at an event in Rio de Janeiro this Friday (13).
“Our expectation is to clear stocks of mid-range products to concentrate efforts on high-end luxury,” stated Gafisa’s business vice-president, Luis Fernando Ortiz. “In 2025 we will be a company purely of valuable units.”
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Gafisa has around 300 units in stock and, according to its president, Sheyla Resende, the main focus for 2025 will be on the Rio-São Paulo axis, where it sees great potential for buyers for its high-value assets. “The idea is to be 100% in the luxury market,” said Resende.
This year, the construction company launched a high-end development on Rua Oscar Freire, one of the most expensive streets in Brazil, with properties starting at R$30 million each. The building is scheduled to be delivered in 2028, and, according to executives, almost all units have already been reserved.
Ortiz explained that Gafisa has changed its strategy to prioritize volume over quantity. “Now, the priority is to launch a few units and with a concentrated volume,” he stated.
Gafisa closed the third quarter of this year with an adjusted net loss of R$23.2 million, smaller than the loss of around R$65 million recorded in the same period in 2023.
