Two of Brazil’s biggest real estate companies, Cyrela and Tecnisa, have agreed on a major land deal in São Paulo.

According to official company statements, Cyrela will buy seven land plots and special building rights in the Jardim das Perdizes neighborhood from a company controlled by Tecnisa.

The deal is worth R$450 ($82) million, with a possible extra R$60 million if certain sales goals are met. The sale still needs approval from Brazil’s competition authority.

Cyrela is one of Brazil’s top developers, known for building both luxury and affordable homes. In early 2025, Cyrela’s profits grew 23% to R$328 million, and its revenue rose 24% to R$1.95 billion.

The company is launching more projects than last year, and about a third of its new homes are part of a government-backed affordable housing program.

Cyrela’s Major Land Deal with Tecnisa Signals Shifting Fortunes in São Paulo Real Estate. (Photo Internet reproduction)

Tecnisa’s Land Sale Boosts Finances Amid Strong São Paulo Housing Demand

Tecnisa, which controls the company selling the land, is using this deal to strengthen its finances. Although Tecnisa’s sales grew nearly 50% in 2024, it still lost R$148 million that year.

The cash from the sale will help Tecnisa pay down debt and focus on building new projects in Jardim das Perdizes. Tecnisa plans to launch over R$5 billion worth of new homes in this area between 2024 and 2026.

Jardim das Perdizes is a new, high-end neighborhood in São Paulo. Developers have spent years buying land and getting special permits, called CEPACs, which allow them to build more than usual.

New buildings in the area have sold well, showing strong demand for homes in this part of the city. This deal is important because it shows that big developers are still willing to invest in prime locations, even when the economy is uncertain.

It also highlights how companies like Tecnisa use land sales to raise money and focus on their main projects. The agreement will likely shape what São Paulo’s skyline looks like in the future and could influence prices and housing supply.