Cyrela Brazil Realty

3600 12 Av Brigadeiro Faria Lima Itaim Bibi Andar, Sao Paulo, Sao Paulo, 04538-132, Brazil

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About Cyrela Brazil Realty

Summary

Cyrela Brazil Realty is Brazil’s largest homebuilder and real estate company by revenue and market value. Established in 1962 by Syrian-born Jewish billionaire Elie Horn, the company is headquartered in São Paulo and operates in 16 states and 66 cities across Brazil, as well as in Argentina and Uruguay. It is publicly listed on the B3 stock exchange.

Cyrela is renowned for its high-quality residential and commercial developments, having built over 7.25 million square feet (674,000 m²) of properties and serving 35,000 customers. The company was ranked in Interbrand’s 2010 list of the 25 Most Valuable Brazilian Brands, with an estimated value of R$545 million. In the first quarter of 2013, it reported a net profit of R$179 million.

The company’s portfolio includes prominent projects such as the Faria Lima Financial Center, the JK Financial Center in São Paulo, and the Le Parc Residential Resort in Salvador. It competes with other major Brazilian companies in the industry, such as MRV, Gafisa, and Even, as well as Mexico’s Homex.

Cyrela operates under several brands, each targeting different market segments. The Cyrela brand focuses on high-end and luxury properties, while Living, established in 2007, targets families and investors seeking quality homes. Vivaz, a Cyrela subsidiary, provides affordable housing, particularly through the Minha Casa, Minha Vida program. Cyrela Urbanismo is responsible for urban development projects across Brazil.

With over 60 years in the real estate market, Cyrela maintains a solid reputation for its innovative and sustainable approach to urban development, creating homes and communities that blend aesthetics and functionality. The company’s commitment to customer satisfaction and market-leading expertise has solidified its position as a leader in the Brazilian real estate sector.

History

Cyrela Brazil Realty was founded in 1962 by Elie Horn, a Syrian-born Jewish businessman who immigrated to Brazil at the age of 11. After completing a law degree at Mackenzie University, Horn began working in real estate development in São Paulo. In 1978, he established Cyrela, which later became the largest publicly traded developer of high-end residential buildings in Brazil.

Initially, Cyrela focused on residential and commercial property development. In 1981, the company established two subsidiaries: Cyrela Construtora, responsible for construction, and Seller Consultoria Imobiliária e Representação, handling sales. This vertical integration allowed Cyrela to have greater control over its projects.

In 1994, Cyrela formed a joint venture with Argentina’s IRSA, creating Brazil Realty, a company aimed at the high-end real estate market. This partnership expanded Cyrela’s reach and capabilities in luxury developments. In 2005, Cyrela Brazil Realty S.A. was officially listed on the Brazilian stock exchange, BM&FBovespa, marking a significant milestone in the company’s growth.

Over the years, Cyrela has developed numerous notable projects, including the Faria Lima Financial Center and the JK Financial Center in São Paulo, and the Le Parc Residential Resort in Salvador, one of Brazil’s largest luxury condominium complexes.

In 2006, Cyrela launched Living, a subsidiary aimed at the economic and mid-income housing market. Living operates independently, focusing on affordable housing solutions. In 2011, Living introduced a financing simulator tool to assist potential buyers in estimating mortgage costs.

In 2014, Elie Horn stepped down as CEO, appointing his sons, Efraim and Raphael Horn, as co-CEOs. He continues to serve as Chairman of the Board of Directors. Under their leadership, Cyrela has expanded its operations to 16 states and 66 cities across Brazil, as well as in Argentina and Uruguay. The company has built over 7.25 million square feet (674,000 m²) of properties and served 35,000 customers.

Cyrela’s commitment to quality and innovation has earned it recognition in the industry. In 2010, the company was ranked 14th in Interbrand’s list of the 25 Most Valuable Brazilian Brands, with an estimated value of R$545 million. In the first quarter of 2013, Cyrela reported a net profit of R$179 million.

Portfolio

Cyrela’s real estate portfolio includes luxury residential developments, such as the Cyrela Legacy Vila Mariana in São Paulo, a 23-storey building offering premium living spaces. In the commercial sector, Cyrela has developed office properties, including a portfolio of Class-A office buildings in São Paulo, totaling 90,500 square meters. Additionally, the company has ventured into hospitality and retail, with investments in shopping centers and hotels.

In recent years, Cyrela has expanded its portfolio through strategic partnerships. Notably, in 2020, Cyrela formed a joint venture with Greystar and CPP Investments to develop multifamily properties in São Paulo. This collaboration aims to deliver high-quality residential projects in one of Brazil’s most dynamic real estate markets.

Leadership Team

Efraim Horn | Co-President Director
Raphael Horn | Co-President Director
Celso Antonio Alves | Board of Executive Officers
Felipe Russo de Almeida Cunha | Board of Executive Officers
Miguel Maia Mickelberg | Chief Financial and Investor Relations Officer
Rafaella Nogueira de Carvalho Corti | Board of Executive Officers

References

About Cyrela | Cyrela Brazil Realty
Investors Relations | Cyrela Brazil Realty
Cyrela Brazil Realty | Wikipedia
Cyrela Brazil Realty | World Benchmarking Alliance
RJZCyrela | LinkedIn
Cyrela Brazil Realty – Overview, News & Similar companies | ZoomInfo
Cyrela Brazil Realty | Sovereign Wealth Fund Institute
Cyrela Brazil Realty (CYRE3) Stock Price Quote | Cbonds
Cyrela Brazil Realty | UN Global Compact
Cyrela Brazil Realty SA Empreendimentos e Participacoes | Financial Times
Cyrela Brazil Realty SA Empreendimentos e Participacoes | Bloomberg
Cyrela Brazil Realty S/A | CYRE3 – Sales Revenues | Trading Economics
CYRE-BR: Cyrela Brazil Realty SA Empreendimentos | CNBC
CYRBY Stock Price – Cyrela Brazil Realty SA ADR | Market Watch

3600 12 Av Brigadeiro Faria Lima Itaim Bibi Andar, Sao Paulo, Sao Paulo, 04538-132, Brazil

Website https://ri.cyrela.com.br/en/

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