The new Disney theme park in Abu Dhabi will be completely funded and operated by Miral, with Disney just licensing their IP to the company.
Disney and Miral Theme Park in Abu Dhabi is a Licensing Agreement
During Wednesday’s earnings call, Disney CEO Bob Iger explained that Miral pitched the idea to Disney, who will still be involved in the project and receive royalties. This is similar to Disney’s agreement with The Oriental Land Co., which owns and operates Tokyo Disney Resort.
[Miral has] already demonstrated a commitment to quality in that regard. This is essentially a license arrangement, but with considerable involvement from us. So although they will operate it, we will have employees embedded in the organization with them to help them operate a Disney theme park, basically at the quality level that everybody is used to.
Bob Iger
Disney said the park will “combine Disney’s iconic stories, characters and attractions with Abu Dhabi’s vibrant culture, stunning shorelines, and breathtaking architecture.” It will be “the most technologically advanced theme park” from Disney with their “first modern castle.”
Disney has not announced an official name for the new park, but are calling it “Disneyland Abu Dhabi” as a placeholder for now. No opening year has been announced.
Watch the announcement below.
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