Details of the Announcement

On Wednesday, Disney revealed that it has signed an agreement with Miral, a company specializing in immersive experiences, to construct a park and resort on Yas Island in the United Arab Emirates.

• This will mark Disney’s seventh theme park resort globally.
• The entire project will be developed by Miral, with Disney’s creative team overseeing the design and operational strategies.
• Disney will not be providing financial investment but will receive royalty payments.
• This development is separate from the $60 billion investment Disney has pledged for its existing theme parks over the next decade.

Bob Iger’s Statement

CEO Bob Iger expressed his excitement regarding the new park: “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.”

Iger highlighted the innovative approach the theme park will take, merging modern architecture and advanced technology to ensure immersive entertainment experiences. Although the design process is already underway, he refrained from sharing a specific timeline for the park’s opening, stating, “We’re not pinning down a date yet.”

Economic Impact and Market Considerations

Disney’s announcement follows a successful fiscal second quarter, where the experiences segment—including parks and resorts—saw a 6% increase in revenue compared to the previous year, making up 37% of Disney’s overall revenue. Iger noted the resilience and importance of the experiences business despite varying market conditions.

The UAE’s Strategic Importance

Disney has gradually established its presence in the UAE, introducing retail outlets and popular shows such as “The Lion King” and “Disney on Ice.” The company began exploring the UAE as a potential resort location around 2017-2018, although plans were delayed due to COVID-19 and changes in leadership.

With approximately one-third of the global population within a four-hour flight, the UAE presents a substantial tourism market, estimated to attract 500 million visitors.

A Vision for the Future

Josh D’Amaro, Chairman of Disney Experiences, remarked, “This groundbreaking resort destination represents a new frontier in theme park development.” The park will leverage its unique waterfront location, allowing for innovative storytelling methods. Upon completion, it will include themed accommodations, diverse dining options, and shopping experiences, designed to blend Disney’s storytelling heritage with Abu Dhabi’s rich cultural landscape.

The Yas Island site is already home to several attractions, including Ferrari World and Warner Bros. World. The new Disney park is expected to significantly enhance the entertainment landscape in the region.