SINGAPORE – Despite the ongoing conflict in the Middle East, Singapore’s global investment company Temasek plans to expand its presence in the region.
This includes opening offices in Riyadh in Saudi Arabia, and Abu Dhabi in the United Arab Emirates by the first half of 2027, subject to regulatory approvals. These offices will also serve as strategic hubs where some portfolio companies can be co-located.
Temasek will also actively engage institutions in Qatar and other markets in the Middle East, to pursue partnership and investment opportunities, it said in a statement on Sept 30.
It sees “significant long-term opportunities for itself and its portfolio companies” in the Middle East, where its strategic expansion will also strengthens its ability to access opportunities across broader Central Asia and Africa.
“The region is undergoing a broad-based economic transformation, driven by ambitious national development and diversification plans,” it said.
“Temasek’s global investment experience, networks, and partnership-led approach, alongside its portfolio companies’ deep domain expertise, can contribute to the region’s growth.”
Temasek Holdings chief executive Dilhan Pillay Sandrasegara said: “The Middle East is an important part of Temasek’s global network.
“The pace and ambition of economic transformation across the region are remarkable, and its long-term fundamentals remain highly attractive.”
He added that Temasek sees strong alignment between the region’s priorities and Temasek’s own areas of focus.
“Our relationships across the Middle East – particularly in Saudi Arabia, the United Arab Emirates, and Qatar – have been built over many years through our partnerships, co-investments, and portfolio companies, and we look forward to deepening them further.
“This expansion is a natural next step, and it will help us create compelling partnerships to grow together,” he said.
Temasek Global Investments chief executive officer Chia Song Hwee said being on the ground in the Middle East will also “allows us to bring complementary expertise from across our ecosystem to these markets, expanding pathways to create lasting value with like-minded partners”.
Chia was appointed chairman of the Middle East and Africa region with effect from Sept 1.
In this role, he will provide senior leadership and oversight of Temasek’s engagement and long-term growth in these markets.
Ankit Khemka is managing director of the region and will also continue to drive Temasek’s strategy and expansion there.
In July, Temasek said that around 12% of its portfolio is exposed to the Europe, Middle East and Africa region, with most of it in Europe.
At the time, Chia said Temasek began looking more deeply into the Middle East market over the past two to three years, starting with fund investments.
With the two new offices, Temasek will have 15 offices across 11 countries in 2027.
This network strengthens its ability to operate as a global investor with deep regional connectivity, built to deliver good sustainable returns over the long term, Temasek said.
Besides the Middle East, Temasek has offices across nine countries: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia; and Brussels, London, Mexico City, New York, Paris, San Francisco, and Washington, DC outside Asia.
