According to News24, the new 27,000m² occupied space will be fitted with 14 kitchens, four bars, and a stage.
Donald Kau, the spokesperson for the V&A Waterfront, says Time Out Market will be responsible for curating the food market and managing the space under a contract agreement.
Chain restaurants are not permitted; new vendors must be independent proprietors.
The first Time Out Market opened in Lisbon in 2014 in a historic market hall, turning the location into a popular destination for tourists. Time Out Market has since opened locations in Miami, New York, Boston, Montreal, Chicago and Dubai.
Time Out now has a presence in 333 cities in 59 countries.
The market aims to represent the best cuisine, beverages and culture that the city can offer.
Read more on News24.
Picture: V&A Food Market / Facebook