Full Breakdown
Temasek to Open Gulf Offices Amid Ongoing Regional Tensions
By Drooid · · How we work
Core Expansion Announcement
Singapore’s sovereign investor Temasek announced plans to establish its first physical presence in the Middle East with new offices in Riyadh, Saudi Arabia, and Abu Dhabi, United Arab Emirates. The locations are slated to open in the first half of 2027, pending regulatory approvals, and will serve as strategic hubs for Temasek and its portfolio companies seeking to co-locate in the region.
Background & Context
The Gulf region continues to attract international capital despite heightened uncertainty following retaliatory attacks linked to the Iran-U.S. conflict earlier in the year. Global investors such as the UK-based Pantheon have also announced similar expansions, underscoring a broader trend of firms seeking exposure to the Gulf’s long-term growth prospects. Temasek’s move follows earlier regional activity, including the 2025 launch of its asset-management arm Seviora’s Abu Dhabi office and a May partnership with BlackRock’s Global Infrastructure Partners, L’IMAD and ADNOC to pursue $30 billion in infrastructure deals across the Persian Gulf and Central Asia.
Timeline
- September 1 (occurred): Chia Song Hwee appointed chairman for the Middle East and Africa.
- September 30 (scheduled): Temasek publicly disclosed its Gulf expansion plan.
- First half of 2027 (planned): Expected opening of the Riyadh and Abu Dhabi offices.
Data & Statistics
- Portfolio size: Temasek reported a net portfolio value of S$518 billion (approximately $405.5 billion) as of March 31, 2026.
- Alternative valuation: A separate statement cited a net portfolio exceeding $401 billion (USD).
- Global footprint: The Gulf offices will raise Temasek’s total network to 15 offices in 11 countries by 2027, up from 13 offices across nine countries.
- Regional exposure: Roughly 12 % of Temasek’s portfolio is allocated to Europe, the Middle East and Africa, with the majority currently in Europe.
Official Statements & Responses
The firm said the new hubs will deepen engagement with Saudi Arabia, the United Arab Emirates and Qatar, and will also strengthen access to opportunities in Central Asia and Africa.
Ankit Khemka will continue as managing director for the region, overseeing strategy and expansion.
Verbatim Quotes
- “The pace and ambition of economic transformation across the region are remarkable, and its long-term fundamentals remain highly attractive. We see strong alignment between the region's priorities and Temasek's own areas of focus,” — Dilhan Pillay Sandrasegara, Temasek's CEO
Conflicting Reports & Gaps
Two distinct valuations of Temasek’s net portfolio appear in the source material: one cites S$518 billion (? $405.5 billion) as of March 31, 2026, while another references a figure of over $401 billion (USD). Both figures are attributed to Temasek’s own disclosures, but the slight discrepancy is not explained in the available statements.
What’s Next
Temasek’s Riyadh and Abu Dhabi offices are scheduled to commence operations in the first half of 2027, subject to statutory approvals. The hubs will function as “strategic hubs” for both the investor and its portfolio companies, with plans for co-location to foster long-term partnerships and pursue investment opportunities throughout the Gulf, Central Asia and Africa.