Corvin Palace - Time Out Market Budapest
Corvin Palace - Time Out Market Budapest

Time Out Market is heading to Budapest and will bring the best of the city together under one roof at Corvin Palace

Written by
Time Out PR

Time Out Market Budapest is set to open in 2025 and will be home to the city’s best culinary and cultural talents –from award-winning to up-and-coming.

Budapest will soon be home to Time Out Market – the food and cultural market that brings the best of the city together under one roof: a curated mix of the best local and home-grown chefs, restaurateurs, drinks and cultural experiences.

Time Out Market Budapest is set to open in 2025 at Corvin Palace at Blaha Lujza Square. The historic department store first opened in 1926 and has recently been renovated back to its original neoclassical state and redeveloped as a mixed-use real estate property offering retail, leisure and a hotel.

Across around 25,000 sq ft indoors on the first floor and a further 9,000 sq ft outdoors on the rooftop, Time Out Market Budapest will feature 14 kitchens, four bars, one event space and around 800 seats. There will be plenty of space to celebrate outstanding culinary and cultural talents – all of them will be local and home-grown from Budapest and the wider region. Guests will be able to enjoy food from award-winning chefs, much-loved local gems and up-and-coming restaurateurs, sip a variety of drinks including cocktails from the most creative mixologists and experience culture and entertainment from rising local talents.

While Time Out Market is dedicated to showcasing the best of the city, its philosophy is to make top, home-grown culinary and cultural experiences accessible for all, with guests coming together at communal tables in a uniquely designed space.

Making the people of the city feel at home and a close connection with the city is at the heart of the Time Out Market philosophy which is dedicated to working with local companies and suppliers. As a meaningful addition to the neighbourhood, it will bring significant contribution to the local economy through employment across a variety of skills and new opportunities for home-grown talent.

To curate a Time Out Market, the team will come up with a list of the types of cuisines that make a city the vibrant culinary destination it is to then curate a list of the leading, most exciting and most aspirational local representatives in these cuisines. Part of this process is to try and test to find the best of the city right now and then invite the very best to join. But this is not just about 'big names'; the city’s up-and-coming chefs and much-loved local gems will also be proudly featured.

This will be Time Out Market’s first location in Hungary. The first Time Out Market opened in 2014 in Lisbon as the world’s first editorially curated food and cultural market and further Time Out Markets opened around the world, putting a spotlight on the food and culture scenes of these cities and their diverse talents – while this is now a concept popular across several cities, the execution of each Market is distinctly local.

Time Out Market is rooted in the heritage of Time Out – a publication created at a kitchen table in London in 1968 to help people go out better and discover the exciting new urban cultures that had started up all over the city. Today, a global team of local expert journalists curate and create the best things to do, see and eat in 333 cities in 59 countries across websites, social media, video, newsletters, podcasts and live events; now this curation is also brought to life at Time Out Market.

Sandy Hayek, Time Out Market CEO said: “Budapest is amongst Europe’s most beautiful and buzzy cities in which both locals and tourists love to go out – to open a new Time Out Market in one of the city’s top locations, together with our partners in Budapest, is very exciting for us. The food scene is a great reflection of the city itself: Budapest offers both traditional, classic and modern, hip elements – it has a vibrant and diverse food scene which we will bring together under one roof at Time Out Market Budapest.”

Oliver Balogh and Viktor Balogh – minority owners of Corvin Palace – added: “Corvin Palace is the oldest department store in Budapest – we are proud to have now brought it back to its original glory, whilst creating value through a modern mixed-use of this legendary building. This is an ambitious project, so our goal was to include an iconic food and cultural market to complement the high-quality retail and leisure offerings as well as a hotel already signed – we are delighted to be welcoming Time Out Market Budapest to Corvin Palace soon.”




Notes to editors

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About Time Out Group

Time Out Group is a global brand that inspires and enables people to experience the best of the city. Time Out launched in London in 1968 to help people discover the best of the city - today it is the only global brand dedicated to city life. Expert journalists curate and create content about the best things to Do, See and Eat across 333 cities in 59 countries and across a unique multi-platform model spanning both digital and physical channels. Time Out Market is the world's first editorially curated food and cultural market, bringing a city's best chefs, restaurateurs and unique cultural experiences together under one roof. The portfolio includes open Markets in seven cities such as Lisbon, New York and Dubai, several new locations with expected opening dates in 2024 and beyond, in addition to a pipeline of further locations in advanced discussions. Time Out Group PLC, listed on AIM, is headquartered in London (UK).


About Corvin Palace

Corvin Palace is located in the heart of Budapest, at Blaha Lujza Square, overlooking one of the city’s busiest intersections. It serves retail and gastronomic functions on three floors, and hotel functions on four floors, totalling over 16500 square metres. Corvin Palace was Budapest’s first department store, it opened in 1926. A neoclassicist icon of the city, Corvin Palace was Eastern Europe’s centre of fashion up until the beginning of World War II. It housed Budapest’s first escalator, and was the first department store in the city to have electric lighting inside. The building has suffered numerous damages over the decades after World War II and has just recently been renovated, giving the city back its once famous icon.

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