The Walt Disney Co. announced plans on May 7 to create a new theme park in the United Arab Emirates. When built, the park will be Disney’s seventh worldwide and the first–ever in the Middle East. 

Disney officials, including CEO Bob Iger, announced the agreement with UAE entertainment development giant Miral in a ceremony from Yas Island in Abu Dhabi.

“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,” Iger said in a statement.

The new resort will be fully financed, developed and built by Abu Dhabi-based Miral, which will also operate the park once it opens. Disney will not contribute financially to the park’s construction, although it will lead creative design and operational oversight. According to financial disclosure documents, Disney will earn royalties based on the project’s revenues and it will also earn service fees. 

The arrangement between Disney and Miral is similar to the Tokyo Disney Resort which opened in 1983. That resort is owned and operated by the Oriental Land Co. under a license from The Walt Disney Co.

Disney officials revealed minimal details about the park as part of the announcement but did say it will be the most advanced and interactive destination in the company’s theme park portfolio. Iger described it as “blending contemporary architecture with cutting-edge technology.” No estimate of cost or timeline for opening was provided.

The Abu Dhabi Disney park is the latest addition to Miral’s enormous Yas Island development in the heart of Abu Dhabi. Over the past two decades 9.6 sq mi island has been developed into multi-purpose leisure, shopping and entertainment center.

When completed, the Disney theme park will join Ferrari World Abu Dhabi, Yas Waterworld, Warner Bros. World Abu Dhabi and SeaWorld Abu Dhabi—a 2024 ENR Global Best Project Award honoree—on Yas Island. The island also includes Yas Mall, Etihad Arena, Yas Marina Circuit and a dozen resort hotels. 

Miral Group was founded in 2011 as a real estate development, management and investment company specializing in Abu Dhabi as a leisure and entertainment destination. In 2015, Mohamed Abdalla Al Zaabi took over as the company’s chief executive officer, while also serving as a part-time spokesperson for Abu Dhabi’s Dept. of Culture and Tourism. 

Under his watch, the firm accelerated the development of Yas Island as well as other mega projects in Abu Dhabi. As of 2022, the company’s portfolio of projects was worth an estimated $3.4 billion.

“What we are creating with Disney in Abu Dhabi is a whole new world of imagination—an experience that will inspire generations across the region and the world, creating magical moments and memories that families will treasure forever,” Mohamed Khalifa Al Mubarak, Chairman at Miral, said in a statement.

Officials with the Walt Disney Co. and Miral announced the agreement to build a theme park in a ceremony in Abu Dhabi on May 7.

Photo by Mohamed Al Balsoohi / Abu Dhabi

The Disney theme park project marks an intersection between both Disney’s and Abu Dhabi’s long-term development plans.

The emirate is working to diversify its economy away from  dependence on petrochemicals. Last year, Abu Dhabi unveiled its Tourism Strategy 2030 plan to boost the emirate’s annual visitor numbers to more than 39 million by 2030—a 62% increase over 2023. If successful, the sector would contribute an estimated $24 billion annually to the emirate’s GDP, officials say.

The recent strong performance of Disney’s theme parks and cruise lines—knows as its Experiences division—has buoyed the entertainment giant’s financial fortunes and play a large part in its future plans. In 2023, Disney stated that it would spend $60 billion on its various theme parks and resorts in the next decade. 

Last year the company detailed a host of expansions to its existing parks in the U.S., France and China. The Abu Dhabi park is the only new park announced as part of that initiative. During the company’s earnings call on Wednesday, Iger said Disney has plans to spend $30 billion on its resorts in Florida and California.