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

In a strategic move to bolster its presence in the Middle East, Singapore-based investment firm Temasek plans to open offices in Riyadh and Abu Dhabi in the first half of 2027, marking its inaugural physical footprint in the region. The offices, pending statutory approvals, will function as "strategic hubs" for the investment company and its affiliated companies, potentially accommodating co-location by some of them, officials said on Wednesday (Sep 30).

Temasek envisions substantial opportunities across Saudi Arabia, the United Arab Emirates, and Qatar, and is set to intensify its engagement with Qatar-based institutions to explore investment and partnership prospects. This expansion will enhance Temasek's access to opportunities in Central Asia and Africa, the company added.

Temasek's CEO Dilhan Pillay emphasized the region's rapid economic transformation and attractive long-term fundamentals, highlighting a strong alignment between the Middle East's priorities and Temasek's focus areas. Temasek's established connections in Saudi Arabia, the UAE, and Qatar have been cultivated through partnerships, co-investments, and its portfolio companies, according to Dilhan.

Chia Song Hwee, CEO of Temasek Global Investments, noted that a physical presence would bolster Temasek's engagement with partners and broaden access to investment opportunities across the Middle East and beyond. Chia assumed the role of chairman for the Middle East and Africa on Sep 1, overseeing the company's engagement and long-term growth in these markets.

Ankit Khemka, managing director for the region, will continue steering Temasek's strategy and expansion efforts.

Once operational, the Riyadh and Abu Dhabi offices will elevate Temasek's global network to 15 offices spanning 11 countries in 2027, up from the current 13 offices across nine countries. Temasek's present locations comprise Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia, along with Brussels, London, Mexico City, New York, Paris, San Francisco, and Washington, DC.

This announcement aligns with remarks made by Temasek Chairman Teo Chee Hean in a June interview with The Business Times, where he disclosed that the investment company was "actively exploring" a Middle East presence, adding overseas offices only where significant investment opportunities were identified, rather than solely for geographical diversification.

Temasek's net portfolio value reached a record S$518 billion for the fiscal year ending Mar 31, 2026, a 10.5% increase from S$469 billion in the prior year, with a one-year total shareholder return of 10.5%, and a 10-year and 20-year return of 7.1% and 6.8%, respectively. Of Temasek's portfolio, 43% comprises Singapore-based companies, while 38% consists of direct global investments, with the remainder 19% allocated through partnerships, funds, and asset-management entities.