We performed a Coworking Demand Analysis for a Kochi city, Main neighborhood to understand what is and is going to be the most in demand types of coworking for the Dec-Feb 23. We have some exciting findings for you.
Our Data-Driven Process
Propques unique formulas and tool sets use the dynamic datasets that McDonald’s, Target, and Starbucks use to plot out their next locations. We’ve used our experience of operating coworking spaces for 7 years and as market researchers to develop a process and algorithm specifically for the coworking and commercial real estate industry. The datasets uses buyer and lifestyle profiles and we’ve correlated each profile with successful coworking markets and forward looking trends. Each profile is graded on their likelihood of joining a coworking space and the type of coworking space they would be most interested in.
All of that data is combined with other local factors (density, mode of transportation, education, etc.) that determine the likely success and size of coworking spaces that can be sustained in the area. The result projects how much coworking space can be sustained in the area the type of coworking (High-end Flex, Mid-range Flex, Executive Suite, etc) that will be most in demand.
Demographics
Each pin code’s population is broken down into demographic tapestries that represent the residents’ income and lifestyle. These are the top 4 for your pin code:
Located in the eastern part of the Kochi, Kakkanad is an important industrial and residential area in Kochi, Kerala. The presence of numerous industries in the locality has increased the need for residential houses near to the workplace. Some of the surrounding suburbs of Kakkanad are Ernakulam, Puthenkurish, Edappally, and Kamalassery.With big business and five-star hotels, Kakkada is transforming into an important commercial hub. Smart City Kochi is located in Kakkanad is one of the major SEZ projects which is under development and is likely to be completed by 2023. Kakkanad is also home for a Software Export Promotion Zone (SEPZ) which consists of companies like Cognizant, Williamslea, WRENCH Solutions, and others. The Muthoot Technopolis, Parsvanath IT Park, and Trans-Asia Tech Tower are a few other IT Parks providing job opportunities.
Airport: 24 Km | Railway Station: 9.2 Km
45.56 % of your area’s population falls in this category. This segment is graded A for coworking compatibility.
Ernakulam is a serene and calm suburb in Ernakulam district of Kerala. Ernakulam is surrounded by Vazhoor Taluk towards East, Ettumanoor Taluk towards West, Lalam Taluk towards North and Erattupetta Taluk towards South. Palai, Erattupetta, Kottayam, Changanassery are the nearby cities to Ernakulam. The roads connected to this place are Kumaranasan Road, Gandhi Nagar Road and Kaloor-Kadavanthara Road which are linked to the entire city. This place lies on the border of Kottayam and Pathanamthitta districts, thus allowing easy access to both these areas. Kottayam Railway Station is major railway station near to Ernakulam. Educational Institutions situated in Elamkulam include Kuriakose Gregorios College, Pampady, Mattakkara Hs Mattakkara, St Joseph Girls Hs Mattakkara, St Alosious Hs Manalumkal and St Antonys Ups Paduva. Vicinity. The locality is well developed with many eateries and restaurants in the vicinity like Vinayaka Kalyana Mandapam, which makes Ernakulam all the more relaxing and pleasant.
Airport: 27.7 Km | Railway Station: 2.9 Km
30.76 % of your area’s population falls in this category. This segment is graded B for coworking compatibility.
Edappally or Idappalli is a major commercial and a residential region in Kochi. It is surrounded by Elamakkara, Kakkanad, Eloor, Kalamaserry, and Mathurapalli. With renowned hospitals and educational facilities in the neighborhood, the local social and retail infrastructure is strong.Reliance Corporate IT Park and the CITTIC, Technology Business Incubator are the major IT hubs in the Edappally region. Caxita Tech Solutions, Aashrami Consulting and Technology Pvt Ltd, Iga Tech Industrial Electronics Pvt Ltd, and Markuplab Technologies (P) Ltd. are few IT/ITeS providing employment opportunities in the locality. Info Park Technology Business Centre (6 km), Muthoot Technopolis (6 km), C-SiS, CUSAT Science Park (4 km), and KINFRA Hi-Tech Park (7 km) are the few other tech parks in the neighboring localities which can be reached in half an hour. Also, many industries like Eveready Industries India Limited, JK Tyre & INDUSTRIES LTD, Vijo Plastic Industries, and Mareena Petro Chemicals Private Limited provide various job prospects.
Airport: 22 Km | Railway Station: 8 Km
24.37 % of your area’s population falls in this category. This segment is graded C for coworking compatibility.
PatPanampilly Nagar is a very best locality. It is close to the Railway Station, Bus stand, city, bus stop, temples/churches, schools (BVM, KV etc.), hospitals (Medical Trust, Indira Gandhi), proposed metro, Kadavnatra market etc. It has wide roads, which most localities in Ernakulam cannot claim. It has its own shopping complex and several boutiques, fine dining restaurantsa prestigious residential location is gradually turning to be a favored spot for offices and business houses. The now-crowded area of Panampilly Nagar was once barren and muddy land. Only a part of the locality was used for cultivation.
Airport: 33 Km | Railway Station: 3 Km
16,76 % of your area’s population falls in this category. This segment is graded D for coworking compatibility.
How Much Flex Office Can Be Sustained in Kochi?
Based on our coworking demographic data for the region, Kochi location, and the city upward trend, Propques predicts the city support 33,880 square feet for next quarter Dec-Feb23.
A Mid-Flex or Modern Executive Suite will be the most successful types of flexible office space in Kochi. We have a list of types of properties that these models work well in inside the report.
What can you do with this data?
The Coworking Demand Analysis report is a great first step to evaluate coworking’s potential for a building you may own or area you are interested in expanded to. It’s an unbiased market research approach to evaluating the potential for a space in a quick and affordable way.
If you are interested to move forward in learning more about coworking’s potential at a location then you’ll likely want to work with a professional and ask about a Focus and Feasibility Study. The Propques consultant will create a targeted area, evaluate the competition, and build out a business model and P & L based on realistic expectations, data, and experience.