PROMENADE was set up in 1987 by GAFISA (the new name for Gomes de Almeida Fernandes S/A) with the sole purpose of administrating all the company's serviced buildings in Rio de Janeiro and Belo Horizonte.

The aim was to extend the traditional high standards for which the construction company is known to the administration of its serviced apartments and residence hotels.

In 1992, GAFISA commenced a broad process of outsourcing some of its activities. From then on, Promenade's founding partners came to hold the controlling share of the company, a situation which continues to this day.

The trend for outsourcing has given the company a great boost, since it can now offer a wider variety of activities and render services to other construction companies and property developers and to different styles of enterprise. In this period, PROMENADE has diversified its business activities, and is currently taking part in projects for residence hotels, serviced and unserviced condominiums of apartments or houses, commercial condominiums and commercial centers in Rio de Janeiro, Belo Horizonte, São José dos Campos and São Paulo.

The success of PROMENADE is also the result of a perfect balance between the condo and hotel elements in a serviced condominium complex. In its buildings there is no excess of any kind. Rather, there is a sense of balance that supports the interests both of the residents and of the investors, owners and tenants.

The property market is already wary of the problems that can arise when companies that only work with condos take charge of the administration. Recognizing this fact, Promenade takes the job of both building manager and administrator in some of the enterprises it administrates.

In line with its philosophy of offering a range of differentiated, exclusive services, PROMENADE has set up a Property Department which offers specialized, exclusive services in Assistance and Intermediation in the Purchase and Sale of Real state.

Another key element of its activities in the property market is the Rental Department. Here, a variety of options is on offer: 30-day, extendable rental periods or traditional rental of 12 or 30 months, always in exclusive and sophisticated ventures.