Disney announced plans to open a new theme park in Abu Dhabi. It'll be the company's seventh theme park location, and has a potential opening date in the early 2030s. In an exclusive interview, Chairman of Disney Experiences Josh D'Amaro told Becky Anderson why they chose the capital of the UAE.
Disney will build its seventh theme park, this one in the United Arab Emirates, the entertainment company said Wednesday.
The waterfront resort will be built on Yas Island on the outskirts of Abu Dhabi city, already home to Formula One's Abu Dhabi Grand Prix, the Ferrari and Warner Bros. amusement parks, SeaWorld and a waterpark.
Williams driver Alexander Albon of Thailand in action during the Formula One Abu Dhabi Grand Prix at the Yas Marina Circuit in Abu Dhabi, UAE, Dec. 8.
Darko Bandic, Associated Press
Disney and Miral, the Abu Dhabi developer overseeing the project, hope to capitalize 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 neighboring 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 U.S. President Donald Trump to the region next week. Trump has promised a series of business deals with Saudi Arabia, Qatar and the UAE.
With the city skyline in backdrop, people of different nationalities enjoy a good weather of 75.2 degrees Fahrenheit in Abu Dhabi, United Arab Emirates, Jan. 14, 2015.
Kamran Jebreili, Associated Press
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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.
A statue of Walt Disney and Micky Mouse stands in front of the Cinderella Castle at the Magic Kingdom at Walt Disney World in Lake Buena Vista, Fla., Jan. 9, 2019.
John Raoux, Associated Press
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.
Shares of Disney, which also reported second-quarter financial results on Wednesday that beat Wall Street's expectations, jumped more than 9% in morning trading.
A statue of Walt Disney and Micky Mouse stands in front of the Cinderella Castle at the Magic Kingdom at Walt Disney World in Lake Buena Vista, Fla., Jan. 9, 2019.
With the city skyline in backdrop, people of different nationalities enjoy a good weather of 75.2 degrees Fahrenheit in Abu Dhabi, United Arab Emirates, Jan. 14, 2015.
