Singapore state investor Temasek plans to open offices in Riyadh and Abu Dhabi in the first half of 2027, subject to local approvals. The move comes as conflict continues to unsettle markets, energy supplies and shipping. Temasek said the offices would support investment and partnership opportunities across the Middle East.
Planned expansion
The new offices would bring Temasek’s global network to 15 offices in 11 countries in 2027. Its network already includes locations in China, India, the UK and the US. As of March 31, 2026, Temasek had a net portfolio value of S$518 billion ($405.5 billion).
“The Middle East is an important part of Temasek’s global network,” Temasek Chief Executive Officer 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.”
Temasek said it intends to deepen engagement across the Middle East, particularly in Saudi Arabia, the United Arab Emirates and Qatar. It sees long-term opportunities in those markets for itself and its portfolio companies, and plans to engage institutions in Qatar and other regional markets.
The expansion would also give Temasek stronger access to opportunities in Central Asia and Africa. “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 Hwee, chief executive of Temasek Global Investments and chairman for the Middle East and Africa.
Regional operations and conflict
Chia Song Hwee took on the role of chairman for the Middle East and Africa on September 1. Temasek said he will provide senior oversight of its engagement and long-term growth in the markets. Ankit Khemka will remain managing director for the region and lead Temasek’s strategy and expansion.
The National reported that Temasek Holdings, Singapore’s state-owned investment firm, would establish the offices as “strategic hubs” for the company and its portfolio companies, pending local regulatory approval. It put Temasek’s net portfolio at about $400 billion. Temasek also said it would “actively engage” with companies in Qatar and other regional markets to pursue investment and partnership opportunities.
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 report said the war hadn’t deterred international financial firms from setting up operational bases, particularly in the UAE.
An Abu Dhabi base gives global investors and money managers opportunities to expand regional operations and work with sovereign wealth funds, family offices and institutional partners, The National reported. The publication also described the UAE as a destination for ultra-wealthy people despite disruption from the war.
Investment activity in the UAE
The UAE economy grew 3 per cent in the first quarter of 2026 despite the regional war, The National reported, citing government data released in August. It named Blue Owl Capital, Vista Equity Partners, Man Group, Barings, Bain Capital, Cantor and Adapt Investment Managers among companies recently attracted to the UAE capital.
The National also reported that London-based global private markets firm Pantheon opened its first Abu Dhabi office in ADGM on Wednesday.