Time Out Group (LON:TMO) announced on Wednesday that it has entered into a management agreement with Emaar Malls in order to open a new Time Out Market in one of Dubai’s most highly visited attractions.

Time Out Market was launched in 2014 in Lisbon. The restaurants and artisan kiosks enable people to discover local specialities and cultural delights.

Time Out Mercado de Ribeira made the Guardian’s list of the top ten best restaurants and cafes in Lisbon, and the food court has become a favourite amongst Lisboans.

Emaar Malls is a shopping mall and retail business which is majority owned by Emaar Properties.

The global media and entertainment business, who announced its stock market floatation in 2016, said that this was Time Out Market’s third management agreement. It aims to enable the business extend its global expansion of this successful food and cultural market.

“We are pleased to have entered into our third management agreement, partnering with Emaar Malls to open Time Out Market Dubai,” Julio Bruno, CEO of Time Out Group commented in a statement.

“This enables us to scale this successful format globally and drive growth. Time Out Market Dubai will be the first site to open outside of Europe and North America – where we have a pipeline of new sites – demonstrating the strength of our brand and its appeal for the world’s leading real estate companies,” he continued.

Time Out Market Dubai will be located in Souk Al Bahar – an Arabic-style retail, entertainment and dining location in Downtown Dubai. Positioned next to the Dubai Mall and the Burj Khalifa, the location attracts millions of visitors annually.

The new Dubai Market will offer food from 16 of Dubai’s top chefs and restaurants, as well as providing three lounges and cultural experiences.

Time Out Market Dubai expects to open at the end of 2020.

“We are excited to open Time Out Market Dubai together with Emaar Malls in the beautiful Souk Al Bahar. In this city you couldn’t find a more iconic location, right next to the world-famous Burj Khalifa, the spectacular water fountains and the popular Dubai Mall – all attracting millions of visitors every year,” Didier Souillat, CEO of Time Out Market, said.

Time Out made headlines earlier this year when it sold its stake in Flyt Limited to the global online takeaway delivery market place, Just Eat.

At 08:46 BST Wednesday, shares in Time Out Group (LON:TMO) were trading at +1.60%.

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