Former Chancellor Nadhim Zahawi Joins Board of Investment Firm Making Major Mayfair Moves
Former Conservative Party chancellor Nadhim Zahawi has taken a seat on the board of an international investment firm that is directing a massive £1.1 billion into two high-profile luxury hotel projects in London's exclusive Mayfair district.
Evolution Investment Fund's Major London Commitment
The Evolution Investment Fund, which is headquartered in the British Virgin Islands but launched in 2025 by the UAE-based Shanshal family, has announced the acquisition of significant interests in prime Mayfair real estate. The fund has secured a long leasehold interest in the prestigious London Marriott Hotel located on Grosvenor Square, a landmark property spanning 198,000 square feet on one of London's most famous garden squares.
Simultaneously, the fund has acquired a luxury hotel development site on New Bond Street. This ambitious project will cover 157,000 square feet and is planned to include 94 hotel rooms, six luxury residential units, and a striking 12-storey tower structure.
A "Significant Vote of Confidence" in London
The investment firm described this substantial financial commitment as a "significant vote of confidence" in London's continued growth prospects and global appeal. A spokesperson for the Shanshal family, whose business interests extend across construction, telecommunications, and automotive dealerships, emphasized their long-term vision for these acquisitions.
"Our first two acquisitions in Mayfair are much more than prime London assets; they represent our long-term conviction in the enduring quality, resilience and global appeal of this magnificent city," the spokesperson stated. "We plan to invest significantly in these locations, driven by a firm belief in their exceptional long-term appeal."
Zahawi's Political and Business Background
Nadhim Zahawi brings considerable experience to his new role as director of Evolution's UK acquisitions. The former Conservative MP for Stratford-upon-Avon first entered Parliament in 2010 after founding the prominent research firm YouGov. His political career saw him appointed as chancellor under Prime Minister Boris Johnson in July 2022, though he notably called for Johnson's resignation shortly after taking the position.
Zahawi's tenure as Conservative Party chairman ended in 2023 when he was dismissed after failing to disclose an ongoing investigation by HMRC into his tax affairs. He later confirmed paying nearly £5 million to settle these matters. In a significant political shift, Zahawi defected to Nigel Farage's Reform UK party in January, becoming the first in a series of high-profile Conservative defections at the start of the year.
Looking Forward to "World Class Luxury Hospitality"
Regarding his new position with Evolution Investment Fund, Zahawi expressed enthusiasm about contributing to the firm's expansion. "I'm delighted to have joined the two UK boards at this exciting stage of Evolution's history," he said. "I look forward to using my experience to support the Shanshal family and team to deliver world class luxury hospitality assets in Mayfair and in the UK."
This move represents a notable transition for the former chancellor into the high-stakes world of luxury property investment, while simultaneously marking a substantial financial endorsement of London's premium hospitality sector from international investors.
