Luxury and fun: Disney announces a new theme park in Abu Dhabi

Disney Group revealed plans on Wednesday to open a new theme park in the United Arab Emirates, the seventh for the American entertainment giant .

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The resort, whose opening date has not yet been announced, will be built on Yas Island in Abu Dhabi in collaboration with local company Miral. With the new park, Disney hopes to attract tourists from the "Middle East, Africa, India, Europe, and beyond," the entertainment giant said in a statement.

The announcement comes shortly before US President Donald Trump's planned visit to Saudi Arabia, Qatar, and the United Arab Emirates next week.

"Disneyland Abu Dhabi will be authentically Disney and distinctively Emirati," Disney CEO Robert Iger said in the statement, promising "an oasis of extraordinary Disney entertainment at this crossroads of the world."

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The new resort will combine "Disney's iconic stories and characters with Abu Dhabi's vibrant culture, stunning coastline and breathtaking architecture," the company said.

Abu Dhabi will be Disney's seventh theme park, having opened its first in California in 1955.

The others are located in Florida, Tokyo, Paris, Hong Kong, and Shanghai. Iger said they chose the new location because for millions of customers, traveling to other locations is "quite long and expensive."

He also highlighted the success of other attractions already in Abu Dhabi, such as the Louvre Museum and the Guggenheim Museum designed by Frank Gehry, currently under construction.

The Miral Group operates several hotels, resorts and amusement parks in Abu Dhabi, including Warner Brothers World, Ferrari World and SeaWorld .

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Disney Experiences president Josh D'Amaro said in an interview with The Hollywood Reporter that the new resort will be the company's most " modern" and "technologically advanced" destination.

And he revealed that, in an unusual setup for Disney, the park would be financed, built, and ultimately operated by the Miral group. "With oversight, of course, on our part," he stated.

"But we are very confident in this part of the world, with this partner, that this is the appropriate trade arrangement," he added.

Positive results for Disney

Disney reported better-than-expected first-quarter results on Wednesday, driven by rising subscribers and improved profitability for its streaming service.

The company reported that its overall sales increased 7% to $23.6 billion between January and March, and that its Disney+ platform reached 126 million subscribers (up 1.4 million from the previous quarter).

Subscriber growth came as analysts anticipated a decline in the period.

The Experiences segment, which includes theme parks and consumer products, saw revenue increase to $8.9 billion. Domestic Parks and Experiences operating revenue grew 13% to $1.8 billion.

AFP