HONG KONG, Sept 30 (Reuters) - Singapore state investor Temasek said on Wednesday it planned to open offices in Riyadh and Abu Dhabi in the first half of 2027, subject to approvals, seeking investment and partnership opportunities across the Middle East.
The new offices will expand Temasek's global network to 15 offices in 11 countries in 2027. Temasek had a net portfolio value of S$518 billion ($405.5 billion) as of March 31, 2026.
"The Middle East is an important part of Temasek’s global network," Temasek Chief Executive Officer Dilhan Pillay Sandrasegara said in a statement.
"The pace and ambition of economic transformation across the region are remarkable, and its long-term fundamentals remain highly attractive."
The expansion signals Temasek's confidence in the Gulf's long-term growth despite regional tensions that have raised uncertainty for markets, energy supplies and shipping.
The statement said Temasek would deepen engagement across the Middle East, particularly in Saudi Arabia, the United Arab Emirates and Qatar, where it sees long-term opportunities for itself and its portfolio companies.
Temasek said it would also engage institutions in Qatar and other Middle East markets. The expansion would also strengthen its access to opportunities in Central Asia and Africa, it added.
Chia Song Hwee, CEO of Temasek Global Investments, became chairman for the Middle East and Africa on September 1. He will provide senior oversight of Temasek's engagement and long-term growth in the markets, Temasek said.
Ankit Khemka will remain managing director for the region and lead Temasek's strategy and expansion.
($1 = 1.2774 Singapore dollars)
Reporting by Yantoultra Ngui; Editing by Kate Mayberry
Source: Reuters