The Walt Disney Company announced plans for a new theme park in Abu Dhabi while reporting financial results that exceeded expectations. The company stated that performance of United States parks and streaming services drove the favorable outcome.
The proposed theme park, which would be Disney's seventh globally, is planned for Yas Island in Abu Dhabi. The Walt Disney Company intends to partner with Miral, a company based in the United Arab Emirates that has developed other attractions on the island. Concept art features a crystal-like castle and waterfront areas.Yas Island has grown into a major entertainment area over the past two decades. Existing attractions there include Warner Bros. World Abu Dhabi, Ferrari World, and SeaWorld Abu Dhabi. The island hosts some of the most technologically sophisticated attractions in the world, such as the fastest roller coaster in the world and the coaster with the highest non-inverted loop. SeaWorld Yas Island Abu Dhabi crowned the largest indoor marine life theme park by Guinness World Records in 2023.
Miral describes itself as progressive and highlights a social responsibility strategy. However, the international organization Human Rights Watch lists a number of deeply repressive practices in the United Arab Emirates, including actions against academics, activists, and LGBTQ+ people.
The Walt Disney Company noted that its United States parks and streaming services bolstered recent financial results (Source). The company's portfolio of streaming platforms, including Disney+, contributed to exceeding financial projections. The Experiences sector, encompassing theme parks and cruises, constitutes a major segment of Disney's operations, accounting for a significant portion of its annual profit.
The announcement of the Abu Dhabi park follows a period during which Disney navigated past disputes with Florida Governor Ron DeSantis, who had challenged the company's governance structure in the state where Walt Disney World Resort is located. In Florida, there's détente in the battle between Disney and Gov. Ron DeSantis The company also faced criticism from by its own employees regarding stances on certain legislative matters.
A date for the potential opening of the Abu Dhabi park has not been announced.
"Obviously, building a theme park in a location is a huge endorsement of the location," Disney Chief Executive Bob Iger said during an earnings call on Wednesday.
