Singapore state investor Temasek plans to open offices in Riyadh and Abu Dhabi in the first half of 2027, subject to approvals, as regional markets face uncertainty after missile and drone attacks from Tehran. The offices would expand Temasek’s global network to 15 offices in 11 countries.
The company says the Gulf’s long-term growth remains attractive, even as regional tensions have raised uncertainty for markets, energy supplies and shipping. Temasek reported a net portfolio value of S$518 billion ($405.5 billion) as of March 31, 2026.
Gulf expansion amid regional risk
“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 would deepen engagement across the Middle East, particularly in Saudi Arabia, the United Arab Emirates and Qatar. It sees long-term opportunities for itself and its portfolio companies in those markets, and plans to engage institutions in Qatar and elsewhere in the region. The company said the expansion would also improve its access to opportunities in Central Asia and Africa.
The National reported that the Riyadh and Abu Dhabi offices would serve as “strategic hubs” for Temasek and its portfolio companies, pending local regulatory approval. Temasek’s planned network of 15 offices across 11 countries includes China, India, the UK and the US.
“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.
Missile attacks and business activity
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, especially in the UAE.
An Abu Dhabi base 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, The National reported. The UAE remains a magnet for ultra-wealthy people despite disruption from the war, according to the report.
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. Among firms recently attracted to the UAE capital, the report 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.
Leadership and investment plans
Chia Song Hwee became chairman for the Middle East and Africa on September 1. Temasek said he’ll 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 also reported that London-based global private markets firm Pantheon opened its first Abu Dhabi office in ADGM on Wednesday. Temasek said it would “actively engage” with companies in Qatar and other regional markets to pursue partnership and investment opportunities. Its planned offices still require approvals.