Singapore’s state-owned investment company Temasek Holdings is jumping on the bandwagon to be a part of the vibrant and trendy coworking scene.

Straits Times reported that the firm has developed a 25,000 sq ft coworking centre for their philanthropic arm Temasek Trust, that will open on 3 June 2019.

Its location is a historical 91-year-old gazetted building that was erected just after World War I, and now named Temasek Shophouse.

Made up of five shophouses, the building has been newly redesigned to create modern office and lounge areas that will be able to hold 120 guests.

Temasek intends for this centre to become a hub that bolsters the development of social enterprises wanting to make an impact in Singapore.

“We hope that this space could become a convener where like-minded partners come together to collaborate on working out solutions for a better earth and a better tomorrow,” said Temasek Shophouse Director Yvonne Tay.

To encourage more social entrepreneurs and non-profit organisations to use the premises, Temasek Shophouse will be offering them subsidised rates on rent.

Currently, three companies have already taken up the space: Taiwanese upcycling firm Miniwiz, Singapore cafe Foreword Coffee, which hires differently-abled workers, and Temasek Trust’s private equity fund ABC World Asia.

The Shophouse still has room for three more social enterprises to move in.

It also doubles as Temasek Trust, Temasek Foundation and the Stewardship Asia Centre’s new office.

Adding on to its function of bringing people with common ideas and beliefs together, Temasek Shophouse will regularly organise exhibitions, workshops, seminars and film screenings that the public can take part in.

Featured Image Credit: Urban Redevelopment Authority

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