Disney will build its seventh theme park, this time in the United Arab Emirates, the entertainment company said recently.
The waterfront resort will be built on Yas Island on the outskirts of Abu Dhabi, already home to Formula One’s Abu Dhabi Grand Prix, the Ferrari and Warner Bros amusement parks, SeaWorld, and a waterpark.
Abu Dhabi is the capital of the UAE, a federation of seven sheikhdoms on the Arabian Peninsula. Home to nine million people, it has leveraged its long-haul carriers Emirates and Etihad Airways to bring in more tourists over the years.
A real-estate boom and the city’s highest-ever tourism numbers have made Dubai a destination as well as a layover.
Disney and Miral, the Abu Dhabi developer overseeing the project, hope to capitalise on the 120 million airline passengers that travel through Abu Dhabi and Dubai each year.
While long viewed as more buttoned up than the beaches and raucous nightlife in neighbouring Dubai, Abu Dhabi also is home to the Louvre Abu Dhabi and there are more museums currently under construction.
The theme park announcement is being made ahead of a visit by United States president Donald Trump to the region. Trump has promised a series of business deals with Saudi Arabia, Qatar and the UAE.
The theme park will be built and operated by Miral, but Disney will handle the design and development. Disney will also license its intellectual property and provide development and management services, according to a regulatory filing.
The California company will not be providing any capital for the project. It will earn royalties based on the resort’s revenues.
It will also earn service fees.
Miral has been involved in the development of almost all of the entertainment complexes built on the island.
A projected opening date has not been announced. – AP
