Zahawi Joins Investment Firm Backing Mayfair Hotel Acquisitions

Former Conservative Chancellor Nadhim Zahawi has joined the board of Evolution Investment Fund, a firm investing £1.1 billion into two luxury hotels in Mayfair, London. The acquisitions include a long leasehold interest in the London Marriott Hotel in Grosvenor Square and a development site on New Bond Street.

Investment Details

Evolution Investment Fund, launched in 2025 and backed by the United Arab Emirates-based Shanshal family, views the investment as a strong indicator of confidence in London’s economic future. The fund’s spokesperson stated the acquisitions represent a “long-term conviction in the enduring quality, resilience and global appeal of this magnificent city.”

The London Marriott Hotel spans 198,000 sq ft and is located on Grosvenor Square. The New Bond Street site will encompass 157,000 sq ft, featuring 94 rooms, six luxury residences and a 12-story tower. The Shanshal family intends to invest significantly in both properties.

Nadhim Zahawi’s Role and Background

Nadhim Zahawi, who founded research firm YouGov before entering politics in 2010, served as Chancellor under Boris Johnson in 2022. He later called for Johnson’s resignation and was subsequently removed as Tory Party chairman in 2023 following disclosures regarding his tax affairs, for which he paid nearly £5 million to settle.

Recently, Zahawi defected to Reform UK. He has been appointed as a director of Evolution’s UK acquisitions and expressed his enthusiasm for the role, stating he looks forward to leveraging his experience to support the Shanshal family and team in developing “world class luxury hospitality assets” in Mayfair and across the UK.