The former government minister who was asked by the last chancellor to help turbocharge inward investment into the UK will this week be named chairman of a private London property developer.

Sky News understands that Lord Harrington is joining Regal as it prepares to raise capital to fund its growth.

Lord Harrington, whose review for Jeremy Hunt was published last November, called for a more strategic approach to attracting foreign investment.

Before going into politics he ran a real estate development business encompassing the residential, commercial and hotel sectors.

Lord Harrington served as MP for Watford between 2010 and 2019, before being ennobled in 2022, when he led the government’s approach to rehoming refugees from the war in Ukraine.

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Regal, which develops residential and mixed-use properties in the capital, employs about 160 people and has a pipeline with a gross development value of about £4.5bn.

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“Regal’s fully integrated model and broad span across London real estate have created a growth trajectory that sets it apart from others in the sector,” said Lord Harrington.

Jonathan Seal, Regal chief executive, added that its new chairman would bring “extensive and valuable experience across a range of sectors, including deep knowledge and understanding of the global investor community”.

His appointment makes Lord Harrington the latest former Tory minister to take on a new private sector role.

Sky News revealed last year that Sajid Javid, the former chancellor and business secretary, was joining investment firm Centricus, while Nadhim Zahawi, another former chancellor, is assembling a bid for The Daily Telegraph.

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