Singapore's Temasek Expands Into the Middle East With New Offices in the UAE and Saudi Arabia

Singapore's Temasek Holdings is expanding into the Middle East by establishing new offices in the UAE and Saudi Arabia, aiming to access a vibrant investment landscape that has largely weathered the challenges of the Iran war. The state-owned investment firm, boasting a net portfolio of approximately $400 billion, announced on Wednesday its intention to open hubs in Abu Dhabi and Riyadh to act as strategic centers for Temasek and its portfolio companies.

Subject to local regulatory approval, these offices are scheduled to open in 2027. This expansion will increase Temasek's global footprint to 15 offices across 11 countries, adding to its existing locations in China, India, the UK, and the US. Furthermore, Temasek stated it intends to actively pursue partnerships and investment opportunities by engaging with companies in Qatar and other regional markets.

Temasek chief executive Dilhan Sandrasegara remarked that the Middle East is a vital component of the firm's global network, noting that the speed and ambition of the region's economic transformation are remarkable while its long-term fundamentals stay highly appealing. Although nations in the Gulf and broader Middle East faced initial missile and drone strikes from Tehran following the outbreak of conflict on February 28, the war has not discouraged international financial institutions from establishing local operations, particularly in the UAE.

Establishing a presence in Abu Dhabi offers international investors and money managers the chance to grow regional activities and collaborate closely with prominent sovereign wealth funds, major family offices, and institutional partners. Additionally, the UAE continues to attract ultra-wealthy individuals unfazed by wartime disruptions. Demonstrating this trend, London-based global private markets firm Pantheon launched its inaugural Abu Dhabi office in ADGM on Wednesday to broaden its regional footprint and meet rising demand from Gulf investors.

The UAE capital has recently drawn several high-profile companies, including private credit lender Blue Owl Capital, tech-focused US private equity firm Vista Equity Partners, Man Group, Barings, Bain Capital, Cantor, and Swiss derivative investment company Adapt Investment Managers. Government figures released in August revealed that the UAE economy expanded by 3 percent in the first quarter of 2026 despite the repercussions of the regional conflict.

Chia Hwee, chief executive of Temasek Global Investments and chairman for the Middle East and Africa, stated that having an on-the-ground presence in the Middle East will bolster collaboration with partners and improve access to investment prospects for Temasek and its portfolio companies throughout the region, extending into Central Asia and Africa.