Singapore-based investment company Temasek is pursuing a Temasek Middle East expansion that will see it open offices in Riyadh, Saudi Arabia, and Abu Dhabi in the UAE, with both locations expected to become operational in the first half of 2027, subject to regulatory approvals. The move reflects what the company describes as long-term confidence in a region undergoing broad-based economic transformation.
The two new offices will bring Temasek’s global network to 15 offices across 11 countries. According to The Business Times, its existing locations span Asia (Beijing, Hanoi, Mumbai, Shanghai, Shenzhen and Singapore) as well as Brussels, London, Mexico City, New York, Paris, San Francisco and Washington, DC. Riyadh and Abu Dhabi would be its first footholds on the Arabian Peninsula.
Portfolio scale and regional ambitions
The expansion comes as Temasek manages a substantial book. Reuters reports that the company had a net portfolio value of S$518 billion ($405.5 billion) as of 31 March 2026, underscoring the scale of capital it could direct towards the region. For now, the Middle East remains a relatively modest slice of its overall book: according to The Straits Times, around 12% of Temasek’s portfolio is exposed to the Europe, Middle East and Africa region, with most of that concentrated in Europe. The new offices are, in part, an attempt to shift that balance.
Temasek said it sees long-term opportunities for itself and its portfolio companies particularly in Saudi Arabia, the UAE and Qatar, and plans to engage institutions in Qatar and other Middle Eastern markets to pursue partnership and investment opportunities. The company described the region’s ongoing economic transformation as driven by national development and diversification plans, and said its global investment experience, networks and portfolio companies could contribute to that growth.
Leadership appointments and the Temasek Middle East expansion strategy
To lead the push, Chia Song Hwee has been appointed chairman for Middle East and Africa, effective 1 September 2026. He will provide senior leadership and oversight of Temasek’s engagement in those markets. Ankit Khemka, managing director for the region, will continue to lead strategy and day-to-day expansion.
Chia said being on the ground would ‘strengthen engagement with our partners and enhance access to investment opportunities for Temasek and our portfolio companies throughout the region and beyond to Central Asia and Africa.’ The company has explicitly flagged Central Asia and Africa as adjacent markets it expects to access through the two new hubs.
Chief executive Dilhan Pillay Sandrasegara framed the move in terms of existing relationships rather than a fresh start. ‘We see strong alignment between the region’s priorities and Temasek’s own areas of focus,’ he said. ‘Our relationships across the Middle East (particularly in Saudi Arabia, the UAE, and Qatar) have been built over many years through our partnerships, co-investments, and portfolio companies, and we look forward to deepening them further.’
The offices will serve as strategic hubs for both Temasek and certain portfolio companies, some of which plan to operate from the same locations. The Temasek Middle East expansion, as the company put it, ‘reflects Temasek’s long-term commitment and confidence in the region and also strengthens its ability to access opportunities across broader Central Asia and Africa.’ Final opening is contingent on the receipt of relevant statutory approvals in each jurisdiction.
