Investors expect expat tenants for luxury Four Seasons Place Four Seasons Place, an upmarket serviced suite complex due to open in Central's International Finance Centre (IFC) in September, is expected to yield some $300 million a year in rental income, according to Sun Hung Kai Properties (SHKP), one of the investors. The first batch of 180 suites in the 60-storey project will be available in June for one to 12-month leases. The rest of the 411 units will be released by the end of the year. Luxury hotel chain Four Seasons Hotels and Resorts, which is managing the project, plans to charge $50 to $60 per square foot for the suites, compared with the current average market rate of $53 per sqft. The apartments, with a gross floor area of 530,000 sq ft, will be adjacent to the 396-room Four Seasons Hotel, which will also open for business in September. The serviced suites could also serve as hotel rooms, the management said. The Four Seasons is one of two new luxury hotels opening in Central. The 113-room Landmark Mandarin Oriental Hotel is due to open this summer. SHKP executive director Mike Wong Chik-wing was confident there would be sufficient market demand to fuel both its hotel and serviced suite projects. 'Branding is all that matters when it comes to a hotel project,' added Mr Wong. 'We believe the Four Seasons brand has a lot of business potential.' With sizes ranging from 547 to 1,873 sqft, Mr Wong said the serviced suites were aimed at corporate executives and other upmarket customers. The suites come in four configurations, from studio units to three bedrooms. 'Demand for serviced suites has been growing in light of the rising number of expatriates,' said a property analyst with a regional brokerage house. 'With a prime location at the IFC, the Four Season Place is likely to do well.' The Four Seasons projects are the last missing pieces of the 4.7 million sq ft IFC complex, which has been developed by a consortium of SHKP, Henderson Land Development, Hong Kong and China Gas and the Bank of China Group.