PDG was created as an investment bank’s department focused on real estate, with the purpose of increasing profitability in a safe and planned way.
In 2006, PDG became an independent business unit.
IPO: PDG went public and had its initial public offering (IPO) in 2007 on BM&F Bovespa (now B3). PDG shares are listed on the Novo Mercado, B3's listing segment with highly differentiated corporate governance standards and the adoption of a set of corporate rules that expand the rights of shareholders.PDG became a public company with the CVM in the same year.
TGLT: In 2007, PDG acquired a 30% interest in TGLT, one of Argentina’s main real estate players, operating mainly in the development of residential properties in Buenos Aires and other major Argentinean cities.
Acquisitions:
- Goldfarb: One of the largest developers and builders in the economic segment in Brazil;
- CHL: One of the most respected builders and developers in Rio de Janeiro;
- AGRE: Company with expressive capillarity and a strong presence in São Paulo and in the North and Northeast regions of the country.
PDG Securitizadora: Real Estate Credit Securitization Company, founded in 2008 and registered as a public company with the CVM in the same year.
PDG adopts a single brand for all its operations.
REP (Real Estate Partners): Control, a company operating in the development, planning, implementation and management of convenience and service centers; built-to-suit properties; small- and medium-sized shopping malls and power centers.
Awards: PDG won 1st place in the Top Real Estate Award, which annually selects the ten most important companies in Greater São Paulo, in the Developer category. PDG also came 2nd in the Construction category and 9th in Sales.
Capital increase: Approved in 2012, in the amount of R$798 million, anchored by Vinci Partners, increasing the company's liquidity.
New management: In 2012, new management was installed, initiating an extensive work plan to restructure PDG's operations with a view to generating value for shareholders in the long term.
New culture: mission, vision and values: In 2012, the organization structure was redesigned, adopting a new model with a centralized corporate structure, controlling key decision processes and providing guidelines for the actions of the regional units.
Restructuring: Due to changes in the economic scenario both in Brazil and in the real estate industry, the management devised an action plan focused on 7 main initiatives: (1) debt restructuring; (2) acceleration of asset sales; (3) greater effort to sale inventory and accelerate transfers; (4) relentless work to reduce costs; (5) focus on the execution to complete and register construction sites at advanced stages; (6) liability reduction; (7) preserving the Company’s cash.
PDG announces the sale of its full interest in REP’s capital stock, corresponding to 58.10%.
Judicial Reorganization: In February 2017, PDG started its Judicial Reorganization process, and in November 2017, the Judicial Reorganization Plan (PRJ) was approved, which included as main measures: (i) limitation of amounts for the reversal of charges on credits until the final approval of the plan; (ii) possibility of converting debt into shares of the Company; and (iii) extending the Company's concursal debt for up to 25 years.
From 2018 to 2020, PDG was focused on meeting the requirements of the PRJ. For further information on the Judicial Reorganization, click here.
Judicial Reorganization Closure: In October, the Judicial Reorganization process was officially closed, with PDG having complied with all the obligations set out in the Judicial Reorganization Plan.
Vernyy: Launched as a new business unit, with the objective of offering digital, intelligent and integrated solutions to meet the most diversified needs of the sector and its different players.
ix. Incorporadora: Rebranding of subsidiary PDG Incorporadora, Corretora, Urbanizadora e Corretora LTDA. to ix. Incorporadora. The new brand reflects the company's new moment, its transformation and vision for the future.
Launch of ix.Tatuapé: As a mark in the recovery of operations and focused on middle-income consumers, ix.Tatuapé, located on the east side of São Paulo and with a PSV of R$60 million, was the first development launched under the new ix. brand. For more information, click here.
Great Place to Work (GPTW) certification: The company received the GPTW certification for the first time, scoring 90 points on the Trust Index. The recognition highlights the effort and dedication during the recovery process.
Disclosure of the first Sustainability Report and Adherence to the UN Global Pact: The first Sustainability Report was published and, simultaneously, the company became a signatory to the UN Global Pact, the largest global corporate sustainability initiative. These advances reflect the company's commitment to the ESG agenda.
Launch of ix.Santana:The second launch after the company's recovery, it is focused on medium-high income consumers and is located in the north of São Paulo, with a PSV of R$116 million. For more information on the ix.Santana, click here.
