Singaporean state-owned investor Temasek plans to open offices in Abu Dhabi and Riyadh, expanding its Middle East footprint as the region attracts capital despite the strain of the Iran war.
The $400 billion investor is betting on long-term opportunities created by the Gulf’s economic transformation. But some flagship projects, particularly under Saudi Arabia’s Vision 2030 program, have faced delays or revisions due to tighter finances, weaker foreign investment flows and economic fallout from the Iran war.
“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, said in a press release shared with CNBC.
Temasek’s Riyadh and Abu Dhabi offices, which are expected to open in the first half of 2027, will serve as hubs for the state investor and its network. Several of Temasek’s partners in the region plan to co-locate in these hubs, according to the release.
Temasek is not new to the region. In 2025, the firm’s $54 billion asset management arm Seviora opened an office in Abu Dhabi and signed a partnership with Mubadala Capital to pursue co-investment opportunities
In May of this year, Temasek teamed up with BlackRock’s Global Infrastructure Partners, Abu Dhabi’s L’IMAD and state owned-oil company ADNOC to target $30 billion in infrastructure deals across the Persian Gulf and Central Asia. The war in Iran has challenged Gulf energy infrastructure, straining exports from key producers and pushing Saudi Arabia, the UAE and Qatar to try and find alternate ways to export their crude and LNG.
Temasek will also “actively engage with institutions” in Qatar, according to a press release. The addition of offices in Riyadh and Abu Dhabi join the investor’s 13 other locations around the globe spanning nine countries. The Middle East expansion brings that number to 11, along with hubs in China, India, Belgium, the U.S., Mexico and the U.K.
Chia Song Hwee, Temasek’s Global Investments CEO and Middle East & Africa Chairman, will oversee Temasek’s regional push, alongside Ankit Khemka who is managing director for the region, according to the release.