The planned Disney waterfront resort will be located on Yas Island, a popular tourist destination that is home to other family-friendly attractions, including Warner Bros World Yas Island, SeaWorld Yas Island and Yas Waterworld Abu Dhabi.
“We’ve always been interested in this part of the world - to bring our Disney stories to new, younger fans,“ Disney's Experiences unit Chairman Josh D’Amaro told Reuters, adding, “Abu Dhabi was an ideal location for us.”
The U.S. entertainment company will earn royalties based on the park's revenue, according to a regulatory filing.
Abu Dhabi is known for its oil wealth, though last year it announced plans to invest more than $10 billion in infrastructure to grow its tourism business. The international airport in UAE's commercial hub Dubai aims to boost its capacity to accommodate 120 million passengers a year by 2026.
Once complete, the resort will offer Disney-themed attractions, dining and retail experiences, in a way that blends the Burbank entertainment company's storytelling and Abu Dhabi's heritage, D'Amaro said.
The Abu Dhabi park, Disney's first since Shanghai Disneyland opened in 2016, represents a continuation of the company’s plans to “turbocharge” its Experiences unit, which includes its six global theme park resorts, a cruise ship line and a family resort in Hawaii.
Miral initially approached Disney to talk about their plans for creating a tourism hub in Abu Dhabi, said D'Amaro. That conversation led Disney executives to visit the prospective theme park site last September.
After a return trip to the region in February, D'Amaro said the parties entered into serious discussions that culminated in a deal. The amount of Miral's investment was not disclosed.
Miral Group CEO Mohamed Abdalla Al Zaabi issued a statement hailing the addition of a Disney theme park to Yas Island as a “historic milestone” in the company’s efforts to build the island into a global entertainment destination.
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