Singapore’s Temasek to open Riyadh, Abu Dhabi offices in Middle East expansion
The new offices will expand Temasek’s global network to 15 offices in 11 countries in 2027.
A view of investment company Temasek’s logo at its Singapore headquarters. (File photo: CNA/Abigail Ng)
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HONG KONG: Singapore state investor Temasek said on Wednesday (Sep 30) it planned to open offices in Riyadh and Abu Dhabi in the first half of 2027, subject to approvals, seeking investment and partnership opportunities across the Middle East.
The new offices will expand Temasek’s global network to 15 offices in 11 countries in 2027. Temasek had a net portfolio value of S$518 billion (US$405.5 billion) as of Mar 31, 2026.
“The Middle East is an important part of Temasek’s global network,” Temasek CEO Dilhan Pillay Sandrasegara said in a statement.
“The pace and ambition of economic transformation across the region are remarkable, and its long-term fundamentals remain highly attractive.”
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The expansion signals Temasek’s confidence in the Gulf’s long-term growth despite regional tensions that have raised uncertainty for markets, energy supplies and shipping.
The statement said Temasek would deepen engagement across the Middle East, particularly in Saudi Arabia, the United Arab Emirates and Qatar, where it sees long-term opportunities for itself and its portfolio companies.
Temasek said it would also engage institutions in Qatar and other Middle East markets. The expansion would also strengthen its access to opportunities in Central Asia and Africa, it added.
Chia Song Hwee, CEO of Temasek Global Investments, became chairman for the Middle East and Africa on Sep 1. He will provide senior oversight of Temasek’s engagement and long-term growth in the markets, Temasek said.
“Being on the ground in the Middle East will strengthen engagement with our partners and enhance access to investment opportunities for Temasek and our portfolio companies throughout the region and beyond to Central Asia and Africa,” Chia said.
“Equally, it allows us to bring complementary expertise from across our ecosystem to these markets, expanding pathways to create lasting value with like-minded partners.”
Ankit Khemka will remain managing director for the region and lead Temasek’s strategy and expansion.
Source: Reuters/CNA/dc
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