Disney will open a new theme park resort in Abu Dhabi, its first in the Middle East.
The park will be built in partnership with Abu Dhabi leisure destination company Miral, and will be located on tourism-focused Yas Island.
“As our seventh theme park destination, it will rise from this land in spectacular fashion, blending contemporary architecture with cutting edge technology to offer guests deeply immersive entertainment experiences in unique and modern ways,” said Walt Disney Company CEO Bob Iger.
“Disneyland Abu Dhabi will be authentically Disney and distinctly Emirati – an oasis of extraordinary Disney entertainment at this crossroads of the world that will bring to life our timeless characters and stories in many new ways and will become a source of joy and inspiration for the people of this vast region to enjoy for generations to come.”
The park will include Disney-themed entertainment, accommodation, and retail based along Yas Island’s waterfront.
Disney has yet to announce an estimated opening date. According to Iger, the design and building processes could span two years and five years, respectively.
Disneyland Abu Dhabi will be Disney’s first park in the Middle East. It will also be the only park that is not owned by Disney, and will instead license Disney’s intellectual property to Miral.
The company's other parks are located in the United States, Europe, and Asia. Shanghai Disneyland, its most recently built park, opened in 2016.
Miral currently operates parks like Yas Waterworld and Ferrari World on Yas Island, as well as a superyacht marina, hotel development, and a waterfront recreational district. The island also hosts the Formula 1 Abu Dhabi Grand Prix and the 40,000-capacity Etihad Park concert venue.
The announcement came alongside Disney’s second quarter earnings report. Disney’s Parks & Experiences segment saw a 6% revenue increase year-over-year to US$8.89 billion, driven particularly by growth in U.S. parks.
However, its international parks saw a 5% decline in revenue and a 23% drop in operating income, partly due to lower attendance at its Hong Kong and Shanghai parks.
Disney’s share price closed at US$102.09, up from its previous close of $92.17. Its market capitalisation is $184.6 billion.
Related content
