Singapore’s Temasek plans to open offices in Riyadh and Abu Dhabi in the first half of 2027, subject to approvals. The state-owned investment firm says the move will put it closer to investment and partnership opportunities. Its portfolio stood at S$518 billion ($405.5 billion) as of March 31, 2026. The planned offices bring a major pool of state capital closer to regional governments, companies and institutional partners.
State Capital, Local Access
Temasek calls the Middle East an important part of its global network. Chief Executive Officer Dilhan Pillay Sandrasegara described the region’s “pace and ambition of economic transformation” as remarkable, adding that its long-term fundamentals remain “highly attractive.” That is the language of an investor weighing opportunities. The expansion puts Temasek in a more direct position to pursue them.
The new offices would give Temasek 15 offices in 11 countries in 2027. Its existing network includes China, India, the UK and the US. The firm says the locations will deepen engagement across the Middle East, particularly in Saudi Arabia, the United Arab Emirates and Qatar. It also plans to engage institutions in Qatar and other markets.
“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,” said Chia Song Hwee, chief executive of Temasek Global Investments and chairman for the Middle East and Africa.
Chia took up the chairman role for the Middle East and Africa on September 1. Temasek says he will provide senior oversight of its engagement and long-term growth in the markets. Ankit Khemka remains managing director for the region, leading its strategy and expansion. The named executives will direct Temasek’s regional push. The company frames its aims around partnerships, access and growth.
Hubs Amid Regional Tensions
The National reported that Temasek Holdings would establish “strategic hubs” for Temasek and its portfolio companies, pending local regulatory approval. The publication put the firm’s net portfolio at about $400 billion. Temasek plans the offices despite regional tensions that have raised uncertainty for markets, energy supplies and shipping.
The National reported that Gulf and wider Middle East countries initially faced waves of missile and drone attacks from Tehran after the conflict broke out on February 28. The war hasn’t deterred international financial firms from setting up operational bases, particularly in the UAE, the report said. An Abu Dhabi base, it added, gives global investors and money managers opportunities to expand regional operations and work with some of the world’s largest sovereign wealth funds, large family offices and institutional partners.
That is the hub’s practical promise: a local base for financial firms seeking institutional relationships and investment opportunities. The report also said the UAE remains a magnet for ultra-wealthy people despite war disruption. Temasek says its expanded presence would improve access beyond the Gulf, including to Central Asia and Africa.
The National cited government data released in August showing that the UAE economy grew 3 per cent in the first quarter of 2026 despite the regional war. It named private credit lender Blue Owl Capital, tech-focused US private equity company Vista Equity Partners, Man Group, Barings, Bain Capital, Cantor and Swiss derivative investment company Adapt Investment Managers among firms recently drawn to the UAE capital. London-based global private markets firm Pantheon opened its first Abu Dhabi office in ADGM on Wednesday, the report said.
Temasek’s announcement describes a corporate expansion, not a grassroots account of who benefits from investment or how local communities experience it. It does, however, document the machinery of institutional capital: a state-owned investor, a portfolio measured in hundreds of billions, senior oversight and new offices intended to widen access to regional opportunities. The approvals remain pending.