Nadhim Zahawi joins £1b London hotel investment vehicle

Former chancellor Nadhim Zahawi has been appointed director of a new Middle Eastern fund planning to invest more than £1b in two luxury hotels in London’s Mayfair.

The Times reported the Evolution Investment Fund, which has secured a leasehold interest in both London Marriott Hotel Grosvenor Square and a development site with full consent near New Bond Street, has named Zahawi as director of the acquisition entities.

The British Virgin Islands-based fund was launched in 2025 by the Shanshal family, who are believed to live in the UAE and operate across the Middle East.

According to reports, the investment concerns both the 237-bedroom Marriott hotel as well as a separate scheme at Grafton Street and Barlow Place.

Planning documents seen by The Caterer on Westminster City Council showed there had been an application for a 12-storey building on Barlow Place comprising up to six residential units and a hotel with a restaurant and bar.

Zahawi became the Conservative MP for Stratford-upon-Avon in 2010 and later served as chancellor under Boris Johnson before being dismissed as Conservative Party chairman in 2023.

The office of Nadhim Zahawi has been contacted for comment.