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The origins of Tenda dates back to the founding of Tenda Engenharia e Comércio in 1969 (currently with no ties to Tenda).


Tenda is founded in the city of Belo Horizonte under the name Construtora Tenda Ltda. The first activities began in January 1994.


After six years of operations in Belo Horizonte, Tenda promotes its first expansion in 1999 to São Paulo.


In 2006, Tenda also started to operate in Rio de Janeiro.


In 2007, Tenda made a stronger move towards growth, settling in the metropolitan areas of Salvador, Porto Alegre, Goiânia, Brasília and Vitória.

On October 15, Tenda was listed on B3 (then Bovespa) after initial public offering (IPO) of 67 million shares at the price of R$ 9.00, with a distribution of R$ 603 million and a 55.07% of its shares outstanding.


In October 2008, Tenda incorporated FIT Residencial Empreendimentos Imobiliários Ltda., previously controlled by Gafisa. As a result of the merger, Gafisa diversifies its operating segments and enters the affordable housing sector, becoming Tenda's controlling shareholder with a 60% interest in the outstanding shares.


Brazilian federal government creates the Minha Casa Minha Vida (MCMV) program.

In December 2009, the merger of Tenda’s shares into Gafisa is approved, with the exchange of Company shares for the shares of its parent company.

As a consequence of the merger of shares, the Company becomes a wholly-owned subsidiary of Gafisa and Tenda is delisted from B3.

Tenda and Gafisa share the same organizational structure.

Strong cycle of business expansion.


Operational challenges lead to a R$ 660 million net loss in 2011.

Gafisa implements new organizational structure that results in a new leadership team for Tenda, fully dedicated to the affordable housing sector.


Restructuring and downsizing: new leadership team interrupts launches to solve ongoing projects (currently known as the Legacy projects).

Strategic repositioning: Tenda develops a new business model, with projects to be launched starting in 2013.


Focus on delivering the Legacy projects.

Launches under a new business model, anchored in four pillars:

  • Project financed at launch

  • Integrated sales and transfer

  • Standard construction method

  • Internal sales force

New Business Model is implemented in 6 metropolitan regions in Brazil: São Paulo, Rio de Janeiro, Belo Horizonte, Porto Alegre, Salvador e Recife.


Beginning of the corporate separation process between Tenda and Gafisa.


Completion of the separation process between Tenda and Gafisa: Tenda gest relisted at B3 on May 4.

Beginning of the negotiations in the B3 Novo Mercado, the highest level of Corporate Governance, on June 28.

New Board of Directors announced on July 26.

Tenda expands business model to the 7th metropolitan region in Brazil: Curitiba.


Tenda expands business model to the 8th metropolitan region in Brazil: Goiânia.


TEND3 becomes one of the 100 most traded stocks at B3 and the company enters the IBRX 100 index.


Tenda conducts product testing using wood-frame constructive technology for the new off-site construction business.


Tenda expands its business model to the 10th metropolitan region: Campinas.

New off-site business model is officially inaugurated under the Alea brand, referring to the urban concept of tree-lined boulevards, a hallmark of Alea developments.

Official opening of the Alea factory, located in Jaguariúna, being the largest production line for wood-frame panels in Latin America, with a production capacity of 10,000 units per year.


Tenda continues the offsite construction project, and opened the Alea factory in the city of Jaguariúna.

Last Updated on June 5, 2023
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