Disney to Open Theme Park and Resort in United Arab Emirates
Disney is to open a theme park and a resort in the United Arab Emirates (UAE). The American media and entertainment giant is combining with Miral, a company based in Abu Dhabi that wants to build the new park on Yas Island on the outskirts.
Partnership and Location
Miral already operates a number of attractions on the site, including Seaworld and Warner Bros. World. The joint announcement came before President Trump’s visit to the region, where he promised a number of business deals with Saudi Arabia, Qatar, and the UAE. The theme park will be built and operated by Miral, while Disney will handle the design and development, although it will not finance the project.
Financial Arrangements
Disney will earn license fees and service fees, but it has not been announced which characters and franchises will appear in the park. In a joint statement, the companies said that the resort would include accommodation, restaurants, and retail stores, and "storytelling in a way that celebrates both the legacy of Disney and the futuristic and cultural essence of Abu Dhabi".
Resort Features
The resort will be the most advanced and interactive destination in Disney’s portfolio. The location of the park is incredibly unique, anchored by a beautiful promenade, allowing Disney to tell its stories in completely new ways. Josh d’Amaro, chairman of Disney Experiences, said, "Our resort in Abu Dhabi will be the most advanced and interactive destination in our portfolio."
Time Scales and Details
It is too early to speculate on the project’s time scales, as an agreement has just been reached. Disney and Miral have not announced when the project will be completed or which Disney characters and franchises will be featured.
Disney’s Current Operations
The United Arab Emirates attract millions of visitors to Dubai every year. Disney currently operates six resorts, the first of which was opened in California in 1955, followed by locations in Florida, Tokyo, Paris, Hong Kong, and Shanghai.
Financial Performance
The announcement of the UAE resort coincided with Disney achieving better-than-expected results, driven by a boost in its Disney+ streaming business and strong results from its theme parks. Sales rose by 7% to $23.6 billion, while the operating income was $4.4 billion.
