The Walt Disney Company is bringing its first Middle East Disneyland to Abu Dhabi’s Yas Island under a partnership agreement with Abu Dhabi-based real estate developer Miral, according to a joint statement. This would make Abu Dhabi home to the seventh Disneyland globally, alongside iconic ones in Orlando, Paris, California, Tokyo, Shanghai and Hong Kong.

No investment ticket yet: While the financials of the development weren’t disclosed, the project is set to be funded entirely by Miral, Disney’s head of parks and resorts Josh D’Amaro told Bloomberg reports. Disney will, however, earn royalties on the park’s revenues, according to a regulatory filing. The company previously earmarked USD 60 bn to double its capital investments for resort expansion over the coming decade.

Who’s doing what? Miral will develop, build, and operate the resort, while Disney will provide operational oversight and take the lead on creative design. Prominent US and European brands are also expected to be involved.

The timeline: The project’s design could take up to two years, while construction will require another 4 to 6 years, Reuters quoted D’amaro as saying. The development is still subject to additional agreements being finalized, the filing said. Talks between Miral and Disney on the project began some 18 months ago, Bloomberg reported.

What to expect: The park will include Disney attractions, themed accommodations, and retail and dining experiences, and will be “authentically Disney and distinctly Emirati,” Disney CEO Bob Iger said in the statement. It is being designed to be Disney’s most technologically advanced destination yet, Bloomberg quoted D’amaro as saying.

Saying yes to Yas: The announcement follows Miral’s success in transforming Yas Island into a global leisure hub, already home to Warner Bros. World, Ferrari World, SeaWorld Abu Dhabi, and Yas Waterworld.

The news grabbed plenty of international headlines: Washington Post | New York Times | Axios | CNBC | The Independent | CNN | AP

Tags: