The Walt Disney Co. He announced plans on May 7 to create a new theme park in the United Arab Emirates. When it is built, the park will be the seventh of Disney worldwide and the first, for the Middle East.
Disney officials, including CEO Bob Iger, announced the agreement with the entertainment development giant of the United Arab Emirates Miral in a Yas Island ceremony in Abu Dhabi.
“ Disneyland Abu Dhabi will be truly Disney and differently Emirati: an Oasis of extraordinary Disney entertainment at this junction of the world that will give life to our timeless characters and stories in many new ways and will become a source of joy and inspiration for the people of this great region to enjoy the generations who come, ” said Iger.
The new complex will be completely funded, developed and built by Miral, based in Abu Dhabi, which will also operate the park once it opens. Disney will not financially contribute to the construction of the park, although it will lead to creative design and operational supervision. According to financial outreach documents, Disney will win Royalties based on the revenue of the project and will also get service fees.
The arrangement between Disney and Miral is similar to that of Tokyo Disney Resort, which was opened in 1983. This complex is owned and operated by the eastern Land Co., under a Walt Disney Co.
Disney officials revealed minimal details about the park in the ad, but said that it will be the most advanced and interactive destination of the company’s theme park portfolio. Iger described it as “mixing contemporary architecture with avant -garde technology.” No cost estimates or calendar estimate for opening.
Abu Dhabi Disney Park is the last addition to the enormous development of Yas Island in Miral in the heart of Abu Dhabi. Over the last two decades, the 9.6 -square -kilometer island has become a multipurpose leisure, purchasing and entertainment center.
At the end, the Disney Theme Park will join Ferrari World Abu Dhabi, Yas Waterworld, Warner Bros. World Abu Dhabi and SeaWorld Abu Dhabi – At 2024 Enr Global Best Project Award Honoree – on Yas Island. The island also includes Yas Mall, Etihad Arena, Yas Marina Circuit and a dozen tourist hotels.
Miral Group was founded in 2011 as a company for real estate development, management and investment specialized in Abu Dhabi as a leisure and entertainment destination. In 2015, Mohamed Abdalla in Zaabi took over as CEO of the company, while also part -time spokesman for the Department of Culture and Tourism of Abu Dhabi.
Under his clock, the firm accelerated the development of the island of Yas and other megaprojects in Abu Dhabi. From 2022, the company’s portfolio of projects was worth an estimated value of $ 3.4 billion.
“What we are creating with Disney in Abu Dhabi is a completely new world of imagination: an experience that will inspire generations throughout the region and the world, creating magical moments and memories that families will forever treasure,” said Mohamed Khalifa at Mubarak, President of Mlal, in a statement.
Officials with Walt Disney Co. And Miral announced the agreement to build a theme park at a ceremony in Abu Dhabi on May 7.
Mohamed photo at Balsoohi / Abu Dhabi
The Disney Theme Park project marks an intersection between the long -term development plans for Disney and Abu Dhabi.
The emirate works to diversify its economy far from its dependence on petrochemicals. Last year, Abu Dhabi presented its 2030 Plan tourist strategy to promote the annual visitors’ numbers of the emirate to more than 39 million by 2030, 62% increased compared to 2023. If successful, the sector would bring $ 24 billion a year to GDP of the emirate, according to officials.
The recent interpretation of the theme parks and the Disney cruise lines, generates its division of experiences, has achieved the financial fortunes of the entertainment giant and plays a great role in its future plans. In 2023, Disney stated that he would spend $ 60 million in his various theme parks and stations in the next decade.
Last year the company detailed a series of expansions in its existing parks in the United States, France and China. Abu Dhabi Park is the only new park announced as part of this initiative. During the company’s earnings call on Wednesday, Iger said Disney plans to spend $ 30 billion in its tourist centers in Florida and California.
