Real Estate, Reimagined for Today's Capital

Institutional-grade structures, risk-mitigated strategies, and clear investor alignment — grounded in hard assets and governed by experience.

Our Ethos

Clarity Over Complexity

We favour structured simplicity — not financial theatre. Transparency builds trust.

Disciplined by Design

Our decisions are governed, measured, and psychology-aware — not driven by noise or narrative.

Experience That Anchors Us

We have built businesses and managed through volatility — that real-world experience shapes how we deliver value.

A Philosophy Built for Asymmetry

Downside-aware. Upside-conscious. Outcome-driven.

Our investment framework is designed to prioritise capital preservation while positioning investors to participate in long-term value creation. We apply conservative underwriting, deliberate structuring, and disciplined management to deliver outcomes that are intentionally asymmetric.

Explore Our Strategy

Why Manchester?

The UK's Most Investable City. Not Tomorrow — Today!

Manchester is no longer a rising star. It is the engine room of UK property investment, delivering higher yields, faster growth, and stronger fundamentals than anywhere else in the country — including London.

Where the Smart Capital Flows

Metric Manchester Strategic Insight
Avg. Gross Rental Yield 6.5% Among the highest in England & Wales — strong cash flow.
5-Year Price Growth Forecast +29.4% (Savills) UK-leading projection for capital appreciation.
Annual House Price Growth +8.0% (2025, NW) Outpacing UK average (+5.4%) and London (+1.7%).
Avg. House Price £246,000 Affordable entry point vs. major UK cities (London £523K)
Rent Growth (Last Decade) +72% Signals sustained demand and income resilience.
Population Growth (2011–2021) +9.7% Strong demographic tailwinds; higher than UK average (6.6%)

Smart capital does not chase trends — it positions ahead of them.

Manchester is not a speculative play — it is a strategic position backed by momentum, yield, and long-term fundamentals already outperforming national benchmarks.

At Enigma, we identify and execute on this momentum, giving our partners priority access to prime opportunities across Greater Manchester.

Why Enigma?

Built on a proven idea. Refined with better structure.

We do not chase novelty — we apply real-world experience to re-engineer how capital interacts with real estate.

Our philosophy is shaped by multidisciplinary insight and grounded in three beliefs:

Stewardship over speculation — capital should be managed, not chased

Clarity over complexity — trust grows where things are understood

Structure drives outcomes — thoughtful design creates enduring performance

We do not lead with noise. We lead with design.

Three partners. Three domains. One philosophy.

Each brings a distinct lens — investment design, investor alignment, and asset stewardship — united by a shared approach: disciplined, aligned, and built to last.

Shahzad Naqi

Shahzad Naqi

Partner, Investment Products & Structuring

Salman Shahid

Salman Shahid

Partner, Capital & Investor Relations

Rizwan Shahid

Rizwan Shahid

Partner, Asset Management & Operations

Looking to build something enduring?

We offer tailored conversations — and direct access to the people who shape your investment strategy.

Speak to a Partner