
Walt Disney Co. is planning a theme park beach for Abu Dhabi in the United Arab Emirates, the firm confirmed Wednesday. The interest will be on the shore of Yas Island, now a luxury vacation destination.
The new location will become built, financed and operated by Miral, an Abu Dhabi-based designer. Walt Disney Co. and Walt Disney Imagineering did lead artistic design and operational supervision. It may use Disney-licensed qualities.
“Disneyland Abu Dhabi may be honestly Disney and distinctly Emirati. It may serve as an oasis of unusual Disney pleasure for millions and millions of individuals in this intersection of the world, connecting tourists from the Middle East and Africa , India , Asia , Europe and beyond, ” Disney CEO Robert Iger said from the UAE during a phone with business analysts Wednesday.
Josh D’Amaro, president of Disney Encounters, touted the chance.
“The area of our playground is extremely unique – anchored by a stunning waterfront – which will enable us to inform our stories in totally new ways, ” D’Amaro said in a news release. “This job may reach friends in a complete new part of the world, welcoming more people to experience Disney than ever before. ”
“ What we are creating with Disney in Abu Dhabi is a whole new world of imagination — an experience that will empower years across the area and the world, creating wonderful times and memories that people will cherish forever, ” said Khalifa Al Mubarak, Miral’s chair.
Iger said Imagineers are already working on a design for the Abu Dhabi resort.
“Disney will oversee design license, our IP and provide operational expertise, while Miral will provide the capital construction resources and operational oversight, ” Iger said.
SeaWorld Abu Dhabi ( licensed by Orlando-based United Parks & Resorts ), Warner Bros. World , Ferrari World and Yas Waterworld parks currently operate on Yas Island.
The announcement does not affect the$ 30 billion commitment planned for Disney parks in Florida and California, Iger said.
Iger, in an interview with CNBC, said it takes about two years to develop a park and five years to build “but we’re not making any commitments right now. ”
The announcement came on the heels of Walt Disney Co. ’s quarterly earnings report, including increases in revenue and operating income for its parks and destinations division. Revenue for domestic parks was up 9 % with a 13 % increase in operating income. International parks revenue was down 5 %, which was attributed to lower attendance and increased costs at Shanghai Disneyland and Hong Kong Disneyland.
Iger was cautious about theme park visitation moving forward.
“Despite questions around any macroeconomic uncertainty or the impact of competition, I’m encouraged by the strength and resilience of our business, as evidenced in these earnings and in the second-half bookings at Walt Disney World, ” he said.
Overall revenue for Walt Disney Co. increased 7 % to$ 23. 6 billion in the company ’s second fiscal quarter.
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