[Feature] Common Ground: How A Co-Working Space Built Its Own Economy

The Corporate Snapshot

In Malaysia's bustling co-working landscape, where sleek design and free-flow coffee have become table stakes, one name has consistently pushed the envelope beyond mere real estate. Common Ground, founded in 2017, has evolved from a provider of flexible desks to a curator of a dynamic professional ecosystem. Its ambition is not just to house businesses, but to actively fuel their growth through community and, now, a novel economic layer.

• 🏢 Entity: Common Ground
• 🎯 Area of Expertise: Co-Working Spaces & Professional Community Building
• 📍 Market Status: Market Leader & Ecosystem Innovator

The Scoop: What's New?

The headline-grabbing move is the launch of 'CG Credits', an internal digital currency exclusive to its member network. This isn't just a loyalty points system. Members earn CG Credits by participating in the ecosystem—attending workshops, referring new members, or collaborating on projects. These credits can then be spent on a variety of services: renting meeting rooms, purchasing F&B within the spaces, paying for partner services like legal consultations or digital marketing, and even as a discount on membership fees. The initial pilot saw over 15,000 CG Credits transacted within the first month across its flagship locations in Kuala Lumpur and Selangor.

Executive Insights: The Conversation

When probed on the rationale behind creating a proprietary currency, Common Ground's CEO and co-founder, Sarena Cheah, framed it as a natural evolution of their core mission. "We observed that the real value of a co-working space isn't the square footage," she explained, leaning forward. "It's the connections, the serendipitous collaborations that happen at the coffee machine. But those interactions were intangible, hard to quantify and reward."

She described CG Credits as a "behavioral nudge" and a tangible layer of value exchange on top of their physical infrastructure. "We're incentivizing the actions that make a community thrive. If you help another member solve a problem, that creates value for the network. Now, the network can give something tangible back to you." The vision, as she outlined, is to create a self-reinforcing micro-economy where activity begets rewards, which in turn fuels more activity and collaboration, making membership demonstrably more valuable over time.

Professional Highlights & Track Record

• Secured a landmark Series B funding round led by Catcha Group in 2019, one of the largest for a Southeast Asian co-working space at the time.
• Successfully expanded to over 40 locations across Malaysia and the Philippines, demonstrating scalable operational prowess.
• Pioneered the "Powered by Common Ground" franchise model, enabling local landlords and businesses to leverage their brand and ecosystem.
• Curated a partner network of over 200 service providers (legal, accounting, tech) offering exclusive rates to members, long before the CG Credits launch.
• Maintained an average occupancy rate of over 85% post-pandemic, outperforming many traditional office and co-working competitors.

The Verdict

Common Ground's foray into creating its own currency is a bold, conceptually rich play that transcends the commoditized co-working battle. It's a strategic attempt to lock in network value and create switching costs that are economic, not just logistical. The execution risk lies in maintaining the credit's perceived value and preventing inflation, but the potential to transform a community from a passive perk into an active marketplace is profound.

• 📈 Market Impact: 8/10
• 💡 Innovation Level: 9/10
• 🚀 Growth Potential: 8/10

Common Ground isn't just renting desks anymore; it's minting the currency of collaboration.