3rd Apr 2019 08:43
LONDON (Alliance News) - Time Out Group PLC on Wednesday said it signed a management agreement with shopping centre owner Emaar Malls to open a new Time Out Market in Dubai.
This is the third management agreement of this kind, the media and entertainment business said, following Montreal, Canada, and Prague, Czech Republic.
Time Out opened its first market in 2014 in Lisbon, and has eight more in the pipeline. In 2019, markets are set to open in Miami, New York, Boston, Chicago, and Montreal, followed by Dubai in 2020, London Waterloo in 2021 and Prague in 2022.
The Dubai market will be located in Souk Al Bahar, an Arabic-style retail, entertainment and dining destination "at the heart of Downtown Dubai".
"At Time Out Market Dubai, visitors will get to explore and enjoy food from 16 of Dubai's top chefs and celebrated restaurateurs, three lounges and cultural experiences - it will be a carefully curated mix representing the very best the city has to offer," the company said.
Time Out expects the opening of the market, laying over 30,000 square feet and accommodating 670 seats, at the end of 2020.
The Dubai market will be the first one outside Europe and the US. It follows the presence of the Time Out brand in the city since 2001.
"Time Out launched in Dubai in 2001 and has established a very strong presence in what is one of the world's most visited destinations and booming business hubs. Both locals and visitors rely on Time Out Dubai's curated content - distributed across digital and print channels - to discover this exciting city," Chief Executive Officer Julio Bruno said.
Time Out shares were untraded at 93.50 pence each on Wednesday morning.
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