Singapore's Temasek expands in Mideast with Abu Dhabi, Riyadh offices
Singaporean state investor Temasek is expanding its Middle East presence by opening new offices in Abu Dhabi and Riyadh by 2027. The move aims to capitalize on the region's economic transformation despite ongoing regional geopolitical tensions.
Why it matters
It signals continued institutional investor confidence in the Gulf region's long-term economic diversification strategies despite macroeconomic headwinds.
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.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in