Singapore’s state-run investor Temasek plans to open offices in Abu Dhabi and Riyadh as it expands its footprint in the capital-rich Middle East despite the tensions of the Iran war.
The $400 billion investor is betting on the long-term opportunities created by the Gulf region’s economic transformation. However, some flagship projects, particularly under Saudi Arabia’s Vision 2030 program, are facing delays and revisions due to fiscal constraints, weakening foreign investment flows and the economic fallout from the Iran war.
“The pace and ambition of economic transformation across the region is remarkable and the long-term fundamentals remain very attractive. We see strong alignment between the region’s priorities and Temasek’s own focus areas,” Temasek CEO Dilhan Pillay Sandrasegara said in a press release shared with CNBC.
Temasek’s Riyadh and Abu Dhabi offices are expected to open in the first half of 2027 and will serve as hubs for state-owned investors and their networks. Several of Temasek’s portfolio companies in the region plan to co-locate in these hubs, the release said.
Temasek is not new to the region. In 2025, the firm’s $75.6 billion asset management arm, Seviola, opened an office in Abu Dhabi and entered into a partnership with Mubadala Capital to pursue co-investment opportunities.
In May this year, Temasek partnered with BlackRock’s Global Infrastructure Partners, Abu Dhabi’s L’IMAD and state oil company ADNOC to target $30 billion in infrastructure deals across the Persian Gulf and Central Asia. The Iran war has devastated the Gulf’s energy infrastructure and strained exports for major producers, prompting Saudi Arabia, the UAE and Qatar to find other ways to export crude oil and LNG.
Temasek will also “actively engage with institutions” in Qatar, according to a press release. The addition of the Riyadh and Abu Dhabi offices adds to the investor’s 13 global locations across nine other countries. The Middle East expansion brings the number to 11, with hubs in China, India, Belgium, the US, Mexico and the UK.
According to the release, Temasek’s Global Investment CEO and Middle East and Africa Chairman Chea Song Hwee will oversee Temasek’s regional development alongside Ankit Khemka, the region’s Managing Director.
