Sacramento Kings courts Chinese investors

California-based NBA franchise Sacramento Kings is courting Chinese investors for its Golden 1 Center mixed development plan, according to a Chinese online news website Ecns.cn.

Golden 1 Center is a world-class entertainment and sports center scheduled to open in October 2016.

"This is the first time that an area combined with surrounding mixed-use development has been offered as a prime EB-5 investment opportunity," said Ginny Fang, CEO of Golden Gate Global.

Under the EB-5 program, foreign investors who can make a $1 million investment that creates at least 10 jobs for Americans will be qualified for an EB-5 visa.

Investments under the EB-5 plan are allowed up to 15 percent of the total project. The U.S. government finances to the tune of more than $200 million. So, Chinese investors can rest assured about the stability and security of the project, she said.

Although the EB-5 opportunity is open to the world, residents from China now account for more than 80 percent of such visas issued, compared with just 13 percent a decade ago. So, promotions for EB-5 visas are mainly held in Chinese cities such as Beijing, Shanghai, Shenyang and Dalian, she said.

Source: Ecns