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Time Out Market Budapest – the first Central and Eastern European branch of the international franchise – will open this fall, and Anyukám Mondta, Pingrumba, 101 Bistro, and Szaletly are the first to join Budapest’s new gastronomic center, Világgazdaság reported.
Time Out Market Budapest is one of the newest additions to the international market of gastronomic and urban community spaces. The project will be located in the immediate vicinity of the renovated Blaha Lujza Square, on the first floor of the renovated Corvin Palace, covering an area of 2,500 square meters. The investment is not only of culinary significance: through property utilization, tourism promotion, and the integration of local businesses, it could have a significant economic effect.
The Budapest unit is the twelfth member of the Time Out Market international network and the first to open in Central and Eastern Europe. Launched in Lisbon in 2014, the concept has since been successfully implemented in New York, Montreal, Dubai, and Barcelona.
The essence of the model is to bring professionally selected restaurants and cultural events together under one roof.
According to plans, eleven restaurants, three bars, and five event venues will operate in the market, with approximately 540 seats. The shared use of space, open kitchens, and event-oriented design will contribute to diversifying the customer base and balancing sales over time.
The launch in Budapest fits well with the city’s gastronomic and cultural self-promotion strategy, while creating a new and expanding market for the Time Out Group behind the project. The company’s stock market background and international risk-sharing experience also provide additional financial stability for local players.
Via Világazdaság; Featured photo: Pexels