On Wednesday, Disney announced plans to establish its seventh theme park, which will be located in the United Arab Emirates.
This waterfront resort will be situated on Yas Island, located on the outskirts of Abu Dhabi. Yas Island is already famous for hosting the Formula One Abu Dhabi Grand Prix and features attractions like the Ferrari and Warner Bros. parks, SeaWorld, and a waterpark.
Abu Dhabi serves as the capital of the United Arab Emirates, a federation of seven emirates on the Arabian Peninsula. With a population of 9 million, Abu Dhabi has successfully utilized its long-haul airlines, Emirates and Etihad Airways, to attract an increasing number of tourists. The city has also experienced a real estate surge and the highest tourism rates ever, making it a popular destination as well as a layover point.
Disney, in collaboration with Miral, the Abu Dhabi developer in charge of the project, aims to take advantage of the 120 million airline passengers who pass through Abu Dhabi and Dubai annually.
Traditionally seen as more reserved than its vibrant neighbor Dubai, Abu Dhabi is also home to the Louvre Abu Dhabi and various other museums currently under construction.
This theme park announcement arrives just ahead of a scheduled visit by U.S. President Donald Trump to the region next week, during which he has indicated plans for several business agreements with countries including Saudi Arabia, Qatar, and the UAE.
Miral will be responsible for the construction and operation of the theme park, while Disney will oversee the design and development phases. Additionally, Disney will license its brand and provide development and management services, as outlined in a regulatory filing.
A Williams driver, Alexander Albon from Thailand, competes during the Formula One Abu Dhabi Grand Prix at Yas Marina Circuit in Abu Dhabi, UAE, on Sunday, December 8, 2024. Credit: AP/Darko Bandic
Disney will not invest any capital into the project but will receive royalties based on the income generated by the resort, along with service fees for its involvement.
Miral has played a prominent role in developing most of the entertainment venues located on Yas Island.
As of now, a specific opening date for the theme park has yet to be disclosed.
Following the announcement, Disney’s stock saw a significant increase of over 9% in morning trading, coinciding with the release of the company’s second-quarter financial results, which surpassed analysts’ expectations.