Singapore’s Temasek to open Riyadh, Abu Dhabi offices in Middle East expansion

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 Sep 1. He will provide senior oversight of Temasek’s engagement and long-term growth in the markets, Temasek said.

“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,” Chia said.

“Equally, it allows us to bring complementary expertise from across our ecosystem to these markets, expanding pathways to create lasting value with like-minded partners.”

Ankit Khemka will remain managing director for the region and lead Temasek’s strategy and expansion.