Temasek to expand operations in the Middle East, plans to open offices in Saudi Arabia & UAE

Temasek will be establishing offices in Riyadh, Saudi Arabia and Abu Dhabi, United Arab Emirates (UAE) as part of its plans to expand its Middle East presence.

In a press release on Sep. 30, Singapore's state investment fund announced its intention to "deepen engagement" in the region, where it sees "significant long-term opportunities".

Apart from opening offices in Saudi Arabia and the United Arab Emirates, Temasek will also seek to work with institutions in Qatar as well as other markets in the Middle East.

"This strategic expansion reflects Temasek's long-term commitment and confidence in the region and also strengthens its ability to access opportunities across broader Central Asia and Africa," read the press release.

CEO Dilhan Pillay Sandarasegara called the move a "natural next step", citing the "strong alignment between the region's priorities and Temasek's own areas of focus".

"The pace and ambition of economic transformation across the region are remarkable, and its long-term fundamentals remain highly attractive".