An investment structured around two Brazilian partners
The future Four Seasons São Paulo will be developed by Catuaí Real Estate, which will hold a 56% stake in the project, and Iguatemi, an owner and operator of upscale shopping centres, which will hold the remaining 44%.
Iguatemi plans to invest approximately BRL 300 million (€48.8 million) between 2027 and 2030. According to financial assumptions disclosed to the market, the group expects a nominal unleveraged internal rate of return (IRR) of 18% per annum on its investment. This is a projection rather than a guaranteed return.
A 26-storey development combining hospitality and residences
Located on a site of approximately 3,700 sq m between Amauri and Jerônimo da Veiga streets, close to Faria Lima Avenue, the development will comprise:
- A Four Seasons hotel with 104 rooms and suites.
- 35 serviced apartments.
- 10 private residences offered for sale.
- Three restaurants, a bar, event spaces, a spa, a swimming pool and a fitness centre.
The architectural design has been entrusted to British practice David Chipperfield Architects. Opening is planned for late 2030, subject to obtaining the necessary approvals and meeting the development timetable.
A targeted diversification strategy for Iguatemi
For Iguatemi, traditionally focused on shopping centres and commercial property, the transaction represents a diversification into luxury hospitality.
The group intends to leverage its knowledge of high-income customers and the proximity of its Iguatemi São Paulo and JK Iguatemi shopping centres. However, Pedro Jereissati, Chairman of the Board of Directors, has emphasised that hospitality is not currently intended to become a major development priority for the group.
Four Seasons prepares its return to two Brazilian markets
The São Paulo project follows the announcement of a future Four Seasons hotel in Rio de Janeiro, also being developed with Catuaí, within the former Marina Palace property in the Leblon district.
As La Tribune de l’Hôtellerie reported in December 2025, the approximately 120-room property is scheduled to open in 2029.
Four Seasons previously operated a hotel in São Paulo, which opened in 2018 before closing during the pandemic. The property now operates as the JW Marriott Hotel São Paulo.
At a Glance
Investment: Approximately BRL 1 billion for a mixed-use luxury development.Ownership: Catuaí 56%; Iguatemi 44%.Hotel: 104 Four Seasons rooms and suites.Residential: 35 serviced apartments and 10 private residences.Architecture: David Chipperfield Architects.
Opening: Scheduled for late 2030, subject to approvals.
