The Joelma Building, located in downtown São Paulo, was a modern skyscraper completed in 1971. On the morning of February 1, 1974, a fire ignited due to a short circuit, beginning on the 12th floor. The rapid spread of flames and smoke led to chaos as people attempted to escape. Many occupants were trapped due to malfunctioning elevators and inadequate fire escapes. As the situation escalated, rescue operations struggled with overwhelming conditions including intense heat and thick smoke that filled the building. The fire ultimately lasted for several hours before it was finally extinguished.

Rescue efforts were coordinated by local fire departments, but the disaster's scale overwhelmed them. Eyewitness accounts reflected a scene of panic and confusion as people sought refuge from the flames. With many unable to evacuate in time, the final death toll reached 189, and 293 others suffered injuries, some severely. The incident raised critical questions about the effectiveness of fire safety regulations and existing infrastructure within high-rise buildings, leading to public outcry and calls for reform.

In the aftermath, investigations revealed deficiencies in fire prevention measures and highlighted the urgent need for stricter enforcement of building codes. The tragedy profoundly impacted urban planning and safety standards in Brazil. As a result, significant changes were adopted in fire regulations, aimed at preventing similar disasters in the future. The event serves as a somber reminder of the importance of safety in urban environments.