GFASY Gafisa SA (PK)

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the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

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the Registrant is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934:

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GAFISA S.A.

Corporate Taxpayer’s ID (CNPJ/MF): 01.545.826/0001-07

Company’s Registry (NIRE): 35.300.147.952

Publicly-held Company

NOTICE TO THE MARKET

GAFISA S.A. (BOVESPA: GFSA3) (“Gafisa” or “Company”) hereby informs the market in general and other stakeholders that the Extraodinary Shareholders’ Meeting held today approved the Company's capital increase by up to three hundred million reais (R$300,000,000.00), with the possibility of partial ratification in case of subscription of a minimum of two hundred million and ten reais (R$200,000,010.00). The capital increase, together with the postponement of the Company’s debt maturity informed in the Notice to the Market of December 19 ^th (and conditional on the capital increase itself), is an integral part of the Company’s plan to reinforce the cash position, strenghten its capital structure to face its current debt level, and make allow the Company to position strategicaly and operationaly for the new cicle of the real estate market.

São Paulo, December 20 ^th , 2017.

GAFISA S.A.
Carlos Calheiros
CFO & IRO