Development authority sells ad rights for two Bandra skywalks
Skywalks in Mumbai will soon turn into advertising avenues. The Mumbai Metropolitan Region Development Authority (MMRDA) has finally managed to sell advertising rights for two skywalks in Bandra for a Rs8.2 crore.mumbai Updated: Feb 02, 2011 01:59 IST
Skywalks in Mumbai will soon turn into advertising avenues. The Mumbai Metropolitan Region Development Authority (MMRDA) has finally managed to sell advertising rights for two skywalks in Bandra for a Rs8.2 crore.
The MMRDA will get this money, while the winning bidder, Proactive In and Out Advertising, gets to put up ads and maintain these two skywalks for two years.
“There are few more skywalks at premier locations and with the improving economy we expect they too will attract investors,” joint project director (PR), MMRDA, Dilip Kawathkar said.
The MMRDA has so far opened 30 skywalks across the city and was planning to seal advertising rights on skywalks to agencies. The plan was mooted in 2008 but could not materialise due to the recession.
In 2009, the Anil Ambani-owned Big Street, an Out of Home advertising firm, bagged advertising rights of Bandra (East) skywalk for Rs79 crore for 10 years. But the agency later backed out and also forfeited the Rs7.9 crore that it had deposited as earnest money.
However, with the successful bidding, the advertiser will now be putting up ads on the Bandra (East) skywalk, which has been constructed in two parts — Bandra station to Bandra court (480m) and Bandra station to Kalanagar (1,300m). The second skywalk — Bandra (West) — is 1,050m long.
The MMRDA had embarked on an ambitious plan of building 50 skywalks across Mumbai, which was later reduced to 30.
The MMRDA had also planned to make these projects self-financing ones by giving out space to advertising agencies.