Private company Dorfit Properties is releasing 20 flats of its Ellipsis serviced-apartment project in Happy Valley at an average rental of HK$39 to HK$48 per square foot a month.
A company spokesman said overseas firms were expected to continue their expansion in China following its entry into the World Trade Organisation.
Ellipsis was aimed at the executives of these companies, he said.
He said local professionals would also be interested in the project given its location and a tight new supply in Happy Valley.
The developer acquired the site long ago and had sought different redevelopment plans to maximise its land value.
The project can now provide a total floor area of 113,000 sq ft, including a retail space of 10,136 sq ft.
The spokesman estimated the investment of the project at more than HK$500 million, including land and construction costs.