The Walt Disney Company has unveiled plans for a new theme park in Abu Dhabi, marking an exciting expansion of its global portfolio.
Disney announced on Wednesday that it has finalized a partnership with Miral, a company focused on immersive experiences, to construct a theme park and resort on Yas Island in the United Arab Emirates.
This will constitute Disney’s seventh theme park resort globally, with Miral handling the full development and construction. Disney’s team of imagineers will oversee creative design and operational management, although Disney itself will not contribute any capital investment to the venture, choosing instead to receive royalties from the park.
Notably, this development is separate from the $60 billion investment that Disney has committed to its theme parks over the next decade.
“This is a thrilling moment for our company as we announce plans to build an exciting Disney theme park resort in Abu Dhabi, whose culture is rich with an appreciation of the arts and creativity,” stated Disney CEO Bob Iger. “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 immersive entertainment experiences like never before.”
In an interview with Finance Newso’s David Faber, Iger revealed that the imagineers have already begun the design process for the park, although he was noncommittal about an opening date.
“We’re not pinning down a date yet,” he explained. “Typically, it takes us between 18 months and two years to design and fully develop a park, followed by about five years for construction, but we’re currently not making any commitments regarding timing.”
This announcement follows Disney’s recent fiscal second-quarter report, which showed growth in the company’s experiences sector—encompassing theme parks, cruises, and resorts—with a 6% increase in revenue compared to the previous year.
This segment represented 37% of Disney’s overall revenue in fiscal 2024 and contributed nearly 60% to its operating income.
“Experiences is obviously a critical business for Disney and serves as an important growth platform,” Iger noted during the company’s earnings conference call. “Despite some uncertainty in the macroeconomic environment and competition, I remain optimistic about the strength and resilience of our business, as demonstrated by these results and the bookings for the latter half of the year at Walt Disney World.”
UAE foothold
Disney has been gradually increasing its presence in the United Arab Emirates, establishing retail outlets and hosting entertainment shows like Broadway’s “The Lion King” and “Disney on Ice.”
Iger indicated to Finance Newso that the company has been considering the UAE as a potential site for a new resort since around 2017 or 2018, although efforts were delayed due to the COVID-19 pandemic and a leadership change.
The company highlighted that roughly one-third of the global population resides within a four-hour flight of the UAE, creating a substantial tourism market estimated at 500 million potential visitors.
“This groundbreaking resort destination represents a new frontier in theme park development,” remarked Josh D’Amaro, chairman of Disney experiences. “Our Abu Dhabi resort will be the most advanced and interactive venue in our portfolio. Its unique waterfront location allows us to tell our stories in innovative ways and connect with guests in a previously untapped market, welcoming more families to the Disney experience than ever before.”
Yas Island is already a major center for entertainment and retail, home to attractions such as Ferrari World Abu Dhabi, Yas Waterworld, SeaWorld Abu Dhabi, and Warner Bros. World Abu Dhabi, in addition to the Formula 1 Yas Marina Circuit and the largest mall in Abu Dhabi.
When completed, the new Disney park will feature themed accommodations and distinctive dining and retail opportunities that intertwine Disney’s storytelling legacy with the modern and cultural influences of Abu Dhabi.
“It’ll be much larger than anything that’s currently here,” D’Amaro hinted during the Finance Newso interview.
