Time Out opens its seventh market in Cape Town

(Sharecast News) - Time Out Group officially opened the Time Out Market in Cape Town on Friday, marking its seventh food and cultural market worldwide. The AIM-traded digital publisher and experience specialist said it was its first venture on the African continent, located at the V&A Waterfront in the South African city.

It said the market would bring together "the best" of the city's culinary highlights, drinks and cultural experiences under one roof, spanning 30,000 square feet.

The market featured 13 distinct kitchens, three bars, and a dedicated wine bar offering a range of experiences.

Time Out said its lineup included award-winning chefs, local establishments and emerging talents.

Time Out Market Cape Town was a significant step in the company's expansion plans, with an additional eight markets signed and expected to open between 2024 and 2027.

The global presence of Time Out Markets currently includes locations in Lisbon, New York, Boston, Chicago, Montreal, Dubai, and now Cape Town.

Time Out said it would open markets in Porto, Barcelona, Bahrain and Vancouver in 2024, Abu Dhabi and Osaka in 2025, and Prague and Riyadh in 2027.

It is, however, yet to move beyond the planning stage for a market in its home city of London after plans for one at Waterloo Station were scrapped in 2021 and Spitalfields earlier this year.

At 1104 GMT, shares in Time Out Group were down 0.31% at 48.35p.

Reporting by Josh White for Sharecast.com.