A brand spanking new Disney theme park is on its way to Abu Dhabi, folks! The Walt Disney company spilled the beans on Wednesday about their partnership with Miral, an immersive destination and experiences company, to bring a magical park and resort to Yas Island in the United Arab Emirates. This bad boy will be Disney’s seventh theme park resort, and it’s all being cooked up and constructed by Miral. Disney’s imagineers are taking the wheel on the creative design and operational oversight for this project. The big cheese won’t be dropping any cash into the project, but they’ll be raking in the royalties.
So, like, this development in Abu Dhabi isn’t part of the $60 billion that Disney is planning to throw down the theme park rabbit hole over the next decade. Disney CEO, Bob Iger, was quoted saying, “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.” He added, “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 deeply immersive entertainment experiences in unique and modern ways.”
In an interview with CNBC’s David Faber, Iger spilled the tea that imagineers have already started brainstorming ideas for the park. However, he didn’t want to commit to a specific opening date just yet. “We’re not pinning down a date yet,” he said. “It typically takes us between 18 months and two years to design and fully develop and approximately five years to build but we’re not making any commitments right now.”
The announcement comes hot on the heels of Disney’s second-quarter earnings report, where they reported a top- and bottom-line beat for its fiscal second quarter. The experiences business, including parks, cruises, resorts, and consumer products, saw a 6% year-over-year revenue growth. This segment brought in 37% of the company’s overall revenue in fiscal 2024 and nearly 60% of its operating income.
“Experiences is obviously a critical business for Disney and also an important growth platform,” Iger said during Disney’s second-quarter earnings conference call. “Despite questions around any macroeconomic uncertainty or the impact of competition, I’m encouraged by the strength and resilience of our business as evidenced in these earnings and in the second-half bookings at Walt Disney World.”
Disney has been slowly dipping its toes into the United Arab Emirates in recent years, setting up retail spots and touring entertainment shows like Broadway’s “The Lion King” and “Disney on Ice.” Iger mentioned that the company started scoping out the region for a new resort location back in 2017 or 2018, but Covid and a CEO change put a wrench in their plans.
The company pointed out that about one-third of the world’s population is just a four-hour flight away from the UAE, presenting an addressable tourism market of around 500 million visitors. The new Disney park in Abu Dhabi is set to be the most advanced and interactive destination in the company’s portfolio, anchored by a beautiful waterfront. The park will dish out themed accommodations, unique dining experiences, and retail spots that blend Disney’s storytelling heritage with Abu Dhabi’s futuristic and cultural essence.
When all is said and done, this new Disney park will be larger than life, according to Josh D’Amaro, chairman of Disney experiences. Yas Island is already a hot spot for entertainment and retail, housing attractions like Ferrari World Abu Dhabi, Yas Waterworld, SeaWorld Abu Dhabi, and Warner Bros. World Abu Dhabi. With the addition of the new Disney park, Yas Island will be the ultimate destination for families looking to experience the magic of Disney like never before.
