(NEXSTAR) – The Walt Disney Company on Wednesday announced plans to add another theme park to its Experiences portfolio — its seventh in total.
The new resort is being planned for Abu Dhabi in the United Arab Emirates, on Yas Island. The island, which has an area of about 10 square miles, is already home to several theme parks, including Ferrari World and Warner Bros. World.
“This is a thrilling moment for our company as we announce plans to build an exciting Disney theme park resort in Abu Dhabi, whose culture is rich with an appreciation of the arts and creativity,” Bob Iger, the CEO of the Walt Disney Company, was quoted as saying in a Wednesday press release.
Unlike most current Disney parks, Disney will not run Disney’s Abu Dhabi park, but rather Miral, an entertainment management company which owns many of the theme parks on Yas Island. Disney will be licensing its intellectual property for the project and providing development and management services, according to a regulatory filing obtained by the Associated Press. Disney also won’t be providing any capital, but will earn royalties based on the project’s revenues, and also service fees.
No specific opening date was given for the project.
Few other specific details of the park or its attractions were shared in Wednesday’s press release. Josh D’Amaro, the chairman of the Disney Experiences division, said the park will be “the most advanced and interactive destination in our portfolio,” and hinted that its close proximity to the Persian Gulf will play a role in the “stories” the park hopes to tell.
The press release also mentions that Abu Dhabi’s “futuristic and cultural essence” will inspire some aspects of the resort.
Disney’s announcement comes as the company posted solid profits and revenue in the second quarter: Its domestic theme parks thrived and the company added well over a million subscribers to its streaming service. The company also boosted its profit expectations for the year.
Disney already has six theme parks in its Experiences portfolio, including Disneyland in California, Disney World in Florida, Hong Kong Disneyland, Shanghai Disney Resort, Disneyland Paris and Tokyo Disney Resort. Of those parks, Tokyo Disney Resort, which comprises of Tokyo Disneyland and Tokyo DisneySea, is owned by another company which licenses IP from the Walt Disney Company.
The Associated Press contributed to this report.
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