Temasek to expand in the Middle East, plans to open offices in Riyadh and Abu Dhabi
These offices will also serve as strategic hubs where some portfolio companies can be co-located.
Singapore's global investment firm Temasek intends to broaden its footprint in the Middle East, with plans to establish offices in Riyadh, Saudi Arabia, and Abu Dhabi, the United Arab Emirates, by mid-2027, contingent upon regulatory clearance. These offices will operate as strategic centers, potentially accommodating some of the company's portfolio businesses.
In a statement released on September 30, Temasek expressed strong conviction in the region's substantial long-term investment prospects and the strategic advantages of expanding its operations there.
Temasek anticipates that the Middle East is experiencing a comprehensive economic metamorphosis, propelled by ambitious national development and diversification agendas. The firm asserts that its global investment acumen, established networks, and partnership-oriented methodology, coupled with the profound domain expertise of its portfolio entities, can significantly contribute to the region's growth trajectory.
Temasek Holdings' CEO, Dilhan Pillay Sandrasegara, emphasized that the Middle East holds a pivotal position within Temasek's global network, citing the region's remarkable pace of economic transformation and enduringly attractive long-term fundamentals. He underscored the firm's harmonious alignment with the region's strategic priorities and its existing investment focal points.
The CEO further elucidated that establishing a physical presence in the Middle East will facilitate the integration of complementary expertise from across Temasek's ecosystem, thereby broadening avenues to generate enduring value in collaboration with aligned partners. Chia Song Hwee, the newly appointed chief executive officer of Temasek Global Investments, will oversee operations in the Middle East and Africa, leveraging his senior leadership and strategic oversight to guide the firm's growth in these markets.
Additionally, Ankit Khemka, who already serves as the managing director of the region, will continue to steer Temasek's strategic direction and expansion efforts.
In July, Temasek disclosed that approximately 12% of its portfolio is allocated to the Europe, Middle East, and Africa region, with the majority of these investments concentrated in Europe. The firm initiated a more thorough exploration of the Middle East market over the past two to three years, commencing with strategic fund investments.
Following the inauguration of these two new offices, Temasek's network will comprise 15 offices across 11 countries in 2027, further enhancing its global investment capacity with deep regional connectivity, a cornerstone for delivering robust, sustainable returns over the long term. Apart from the Middle East, Temasek maintains offices in nine countries: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore within Asia, and Brussels, London, Mexico City, New York, Paris, San Francisco, and Washington, DC outside Asia.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
