Skywalks – A new revenue stream for MMRDA Ad space on Bandra skywalks brings in 8 crores!
Mumbai, February 1, 2011 – The advertisement space on the Bandra East and West skywalks has brought in 8.2 crores for the Mumbai Metropolitan Region Development Authority (MMRDA). The Authority’s expectation to turn the skywalks at prime locations into a revenue making model has turned into reality as M/s.Proactive In & Out Advertising Pvt. Ltd. have been attracted to invest in the Bandra skywalks for a period of two years.
The MMRDA, till today, has thrown open 30 skywalks successfully which are being used by nearly one million happy commuters. Once the premier intention of providing safe and comfortable walk to the commuters had been achieved, the Authority was expecting to sell advertisement space on a few skywalks situated at strategic locations for some time. Now that the economy is again popping up its head, the demand for the advertisement space on skywalks is also growing.
“There are few more skywalks which are situated at premier locations and, with the improving economy; we expect they too will attract investors. The Authority intends to use the revenue collected by selling the advertisement space on the skywalks for other developmental projects in the city and its region”, said Mr.Dilip Kawathkar, Joint Project Director (PR), MMRDA.
The Bandra East skywalk has been constructed in two parts – Bandra Station to Bandra Court (480 meters) and Bandra Station to Kalanagar (1,300 meters). The Bandra West skywalk is 1,050 meters long.
It will be recalled that a private company, which had shown interest in buying advertisement space on the Bandra skywalk couple of years back, had to back out owing to recession and that the Authority had forfeited ten per cent of the earnest money deposit amounting to eight crores.