Disney has announced they’re partnering with Miral Group to build a new theme park and resort in Abu Dhabi. Disney’s first Middle Eastern theme park will be located on Yas Island, and will be completely funded by Miral. Walt Disney Imagineering will lead the design of the new theme park.
The full announcement video is below:
Disney’s agreement for the Abu Dhabi resort sounds very similar to the arrangement in place for Tokyo Disney. In Tokyo, the Oriental Land Company operates the theme parks under Disney licenses. The Oriental Land Company was on the hook for the budget. Here, Disney provides design and oversight, but the financial burden for the Abu Dhabi project will fall on the Miral Group.
Looking at this deal from Disney’s perspective, it’s a win-win. They’re tapping into a new market (a giant one at that) for minimal financial risk. That’s huge at a time when international tourism may be softening. The Abu Dhabi project does carry social controversies, but there’s no question this is a financially wise decision.
Disney has confirmed this new Abu Dhabi project won’t impact its previously-announced theme park plans in the United States. Expansions at Disneyland Resort and Walt Disney World are expected to move forward as planned.
An expected opening date hasn’t been announced at this time.
