Disney Plans New Adventure: Theme Park and Resort in Abu Dhabi

A fresh chapter in entertainment unfolds with the announcement of a Disney park coming to Abu Dhabi.

On Wednesday, The Walt Disney Company revealed a partnership with Miral, a company known for creating immersive destinations. This collaboration will see the establishment of a new park and resort on Yas Island, located in the United Arab Emirates.

This venture marks the seventh Disney theme park resort worldwide, with Miral overseeing the entire development and construction process. While Disney will not be funding the project, their creative imagineers are set to guide the artistic design and ensure operational excellence. In return, Disney will receive royalties from the project.

It's important to note that this Abu Dhabi project is separate from the $60 billion commitment Disney has allocated for future investments in its global theme parks over the next ten years.

Bob Iger, the CEO of Disney, expressed his excitement in a statement, highlighting the cultural vibrancy of Abu Dhabi. 'This distinct destination will blend modern architecture with state-of-the-art technology to provide guests with captivating entertainment like no other,' Iger explained.

During a conversation with CNBC's David Faber, Iger shared that Disney's creative team has already started crafting designs for the park, though he did not disclose an anticipated opening date.

This announcement follows a positive report from Disney's experiences division, which includes parks and resorts, posting a 6% revenue increase compared to the previous year.

Disney has been steadily expanding its presence in the UAE, launching retail stores and bringing popular shows such as 'The Lion King' and 'Disney on Ice' to local audiences.

The company highlighted that nearly one-third of the global population is within a short flight of the UAE, presenting a potential market of 500 million tourists.

Josh D'Amaro, Chairman of Disney experiences, hailed the project as a groundbreaking leap in theme park innovation. 'Situated by the beautiful waterfront, our Abu Dhabi resort will offer unparalleled interactive experiences, inviting more families to partake in the magic of Disney than ever before,' he remarked.

Yas Island is already a thriving entertainment hub, hosting attractions like Ferrari World, Yas Waterworld, SeaWorld, and Warner Bros. World, along with the F1 Yas Marina Circuit, a massive mall, and a renowned golf course.

Once completed, the Disney park will feature themed lodgings, distinctive dining, and retail options that weave together Disney's storytelling tradition with Abu Dhabi's futuristic and cultural elements.