Singapore's Temasek to enter Middle East with offices in UAE and Saudi Arabia

Singapore's Temasek Holdings plans to enter the Middle East by setting up offices in the UAE and Saudi Arabia , as it seeks to tap into the region's investment scene that has largely defied the negative effects of the Iran war.

The state-owned investment firm, which has a net portfolio of about $400 billion, plans to open offices in Abu Dhabi and Riyadh, which will serve as "strategic hubs" for Temasek and its portfolio companies, it said in a statement on Wednesday.

Those offices are expected to be inaugurated in 2027, pending approval from local authorities. They would also bring Temasek’s global network to 15 offices across 11 countries, which include China, India, the UK and the US.

It also plans to "actively engage" with companies in Qatar and other markets in the region to pursue partnership and investment opportunities, Temasek said.

“The Middle East is an important part of Temasek’s global network. The pace and ambition of economic transformation across the region are remarkable, and its long-term fundamentals remain highly attractive," Temasek chief executive Dilhan Sandrasegara said.

Countries in the Gulf and the wider Middle East initially faced waves of missile and drone attacks from Tehran after the conflict broke out on February 28. However, the war has not deterred international financial firms from setting up operational bases, especially in the UAE.

A base in Abu Dhabi provides global investors and money managers with opportunities to expand regional operations and work closely with some of the world's largest sovereign wealth funds, as well as large family offices and institutional partners. The UAE also remains a magnet for the ultra-wealthy , who are undeterred by the war disruption.

Also on Wednesday, London-based global private markets firm Pantheon opened its first Abu Dhabi office in ADGM as it expands its presence in the Middle East and seeks to tap growing demand from investors across the Gulf.

The UAE capital has in recent months attracted high-profile companies such as private credit lender Blue Owl Capital, tech-focused US private equity company Vista Equity Partners, Man Group, the world’s largest listed hedge fund, Barings, Bain Capital, Cantor and Swiss derivative investment company Adapt Investment Managers.

The UAE economy grew 3 per cent in first quarter of 2026 despite the impact of the regional war, government data showed in August.

“Being on the ground in the Middle East will strengthen engagement with our partners and enhance access to investment opportunities for Temasek and our portfolio companies throughout the region and beyond to Central Asia and Africa," said Chia Hwee, chief executive of Temasek Global Investments and chairman for the Middle East and Africa.