Singapore’s state investment firm Temasek plans to expand its footprint in the Middle East by establishing new offices in Riyadh, Saudi Arabia, and Abu Dhabi, United Arab Emirates, by the first half of 2027, pending regulatory approval. These offices are intended to serve as regional hubs, offering a base for some of Temasek’s portfolio companies to be co-located and facilitating closer engagement with local institutions.
The firm also intends to deepen its involvement in other Middle Eastern markets, including Qatar, to pursue partnership and investment opportunities. In a statement released on September 30, Temasek highlighted the region’s ongoing economic transformation, driven by national development and diversification initiatives, as a key factor motivating its expansion. The company views the Middle East as a significant long-term growth market, not only for itself but also for its portfolio companies, with potential access extending into broader Central Asia and Africa.
Temasek Holdings CEO Dilhan Pillay Sandrasegara emphasized the strategic importance of the Middle East within the company’s global operations. He noted the rapid pace of economic change in the region and its strong alignment with Temasek’s investment focus. “Our relationships across the Middle East—particularly in Saudi Arabia, the United Arab Emirates, and Qatar—have been built over many years through partnerships, co-investments, and portfolio companies, and we look forward to deepening them further,” he said. The planned expansion, he added, is a natural progression aimed at fostering mutually beneficial partnerships.
Temasek Global Investments CEO Chia Song Hwee, who assumed the role of chairman for the Middle East and Africa region in September, underscored the value of having an on-the-ground presence. “This allows us to bring complementary expertise from across our ecosystem to these markets, expanding pathways to create lasting value with like-minded partners,” he stated. Ankit Khemka, managing director for the region, will continue to lead Temasek’s strategy and growth in the area.
As of July, approximately 12% of Temasek’s portfolio was exposed to Europe, the Middle East, and Africa, with Europe accounting for the majority. Over the past two to three years, Temasek has intensified its focus on the Middle East, beginning with fund investments.
With the addition of the new offices, Temasek’s global network will encompass 15 offices across 11 countries by 2027. The expanded presence is designed to reinforce Temasek’s position as a global investor with strong regional connectivity, supporting its objective of generating sustainable returns over the long term. Beyond the Middle East, Temasek currently operates offices across nine other countries, including locations in Asia such as Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore, as well as major cities outside Asia including Brussels, London, Mexico City, New York, Paris, San Francisco, and Washington, DC.