Why rich Chinese are more eager to invest after Kushner family visas-for-sale controversy

The controversy surrounding a real estate project the Kushner family is touting to wealthy Chinese as a path to an American green card has done nothing to weaken its appeal to potential investors.

The opposite appears to be happening: confidence in the project is growing, with attendees of the latest roadshow in Shenzhen over the weekend saying success was almost guaranteed given how embarrassing failure would be for the Kushners and their most famous extended family member – US President Donald Trump.

“Now that it’s under scrutiny in China and America that the Kushner family is the developer of the property project, I believe Kushner Companies will try their best to complete the project and return the US$500,000 [investment] to every investor,” said Jiang Jiaxing, who took part in a promotional event on Saturday.

“If the project is unfinished at the end and leads to great losses to a lot of overseas investors, it would become a huge international scandal for the Kushner family, as well as Trump. I don’t think he would allow that to happen.”

Kushner Companies, in partnership with Beijing-based Qiaowai, has been touring major mainland cities seeking US$150 million in backing for One Journal Square, a residential project in New Jersey. Potential investors are also told about the EB-5 visa programme, which grants foreigners a US green card in exchange for investing US$500,000 or more in a qualified project.