Temasek intends to open Riyadh, Abu Dhabi offices in 2027 as it deepens Middle East push

[SINGAPORE] Temasek plans to open offices in Riyadh and Abu Dhabi in the first half of 2027, marking its first physical presence in the Middle East as the Singapore investment company deepens its exposure to the region.

The offices, subject to statutory approvals, will serve as “strategic hubs” for the investment company and its portfolio companies, some of which are expected to co-locate there, Temasek said on Wednesday (Sep 30).

It added that it sees broad-based opportunities in Saudi Arabia, the United Arab Emirates and Qatar, and will step up engagement with institutions in Qatar to pursue investment and partnership opportunities.

The expansion will also give Temasek greater access to opportunities in Central Asia and Africa, the company noted.

Temasek’s CEO Dilhan Pillay said that the Middle East had become an important part of its global network, citing the region’s pace of economic transformation and what he described as attractive long-term fundamentals.

“We see strong alignment between the region’s priorities and Temasek’s own areas of focus.”

Temasek’s relationships in Saudi Arabia, the UAE and Qatar have been built over several years through partnerships, co-investments and its portfolio companies, he added.

Expanding regional presence

Chia Song Hwee, CEO of Temasek Global Investments, said that being on the ground would strengthen Temasek’s engagement with partners and improve access to investment opportunities across the Middle East and beyond.

Chia was appointed chairman for the Middle East and Africa on Sep 1 and will oversee Temasek’s engagement and long-term growth in those markets. Ankit Khemka, managing director for the region, will continue to drive the company’s strategy and expansion.

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Once open, the Riyadh and Abu Dhabi offices will bring Temasek’s global network to 15 offices across 11 countries in 2027, up from 13 offices across nine countries currently.

Its existing locations include Beijing, Hanoi, Mumbai, Shanghai, Shenzhen and Singapore in Asia, as well as Brussels, London, Mexico City, New York, Paris, San Francisco and Washington, DC.

The announcement follows comments by Temasek chairman Teo Chee Hean in a June interview with The Business Times, in which he said the investment company was “actively looking” at establishing a presence in the Middle East.

Teo, a former deputy prime minister, said then that Temasek would add overseas offices only where it saw investment opportunities, rather than for geographical spread alone.

Temasek’s net portfolio value reached a record S$518 billion for the financial year ended Mar 31, 2026, up from S$469 billion a year earlier.

Its one-year total shareholder return was 10.5 per cent, while its 10-year and 20-year returns stood at 7.1 per cent and 6.8 per cent, respectively.

Singapore-based portfolio companies accounted for 43 per cent of Temasek’s portfolio, while its direct investments in companies globally made up another 38 per cent. The remaining 19 per cent was invested through partnerships, funds and asset-management businesses.