Temasek to open Riyadh and Abu Dhabi offices in major Gulf expansion

Temasek, a leading Singaporean investment company, announced plans to establish offices in Riyadh and Abu Dhabi in the first half of 2027. This marks the firm's first physical presence in the Middle East, as it continues to expand its footprint in the region. The new offices, pending regulatory approval, will act as strategic hubs for Temasek and its portfolio companies, which are expected to co-locate in the new locations.

Temasek sees significant investment and partnership opportunities in Saudi Arabia, the United Arab Emirates, and Qatar, and aims to strengthen its engagement with institutions in Qatar. The expansion will also provide greater access to opportunities in Central Asia and Africa. Temasek's CEO, Dilhan Pillay, emphasized the region's rapid economic transformation and attractive long-term fundamentals, noting a strong alignment between the region's priorities and Temasek's focus areas.

The Middle East has been a crucial part of Temasek's global network for years, built through partnerships, co-investments, and its portfolio companies. Chia Song Hwee, CEO of Temasek Global Investments, highlighted that a physical presence in the region would enhance Temasek's engagement with partners and improve access to investment opportunities.

Chia recently took on the role of chairman for Middle East and Africa, effective September 1. Ankit Khemka, managing director for the region, will continue to drive the company's strategy and expansion plans. Once operational, the Riyadh and Abu Dhabi offices will bring Temasek's global network to 15 offices across 11 countries in 2027, expanding from 13 offices in nine countries currently.

Temasek's existing international offices are located in Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, Singapore, Brussels, London, Mexico City, New York, Paris, San Francisco, and Washington, DC. The announcement comes after Temasek chairman Teo Chee Hean mentioned in a June interview with The Business Times that the investment company was "actively looking" at establishing a presence in the Middle East, stating that they would only add overseas offices where they see investment opportunities, rather than for geographical spread alone.

Temasek's net portfolio value reached a record S$518 billion for the financial year ending March 31, 2026, up from S$469 billion the previous year. Its one-year total shareholder return was 10.5%, while its 10- and 20-year returns stood at 7.1% and 6.8%, respectively. Portfolio companies based in Singapore accounted for 43% of Temasek's portfolio, while direct investments in companies worldwide made up another 38%. The remaining 19% was invested through partnerships, funds, and asset-management businesses.