Latest news with #FormulaOneAbuDhabiGrandPrix
Gulf Insider
07-05-2025
- Business
- Gulf Insider
Disney To Open First Theme Park In The Middle East
The Walt Disney Company announced on Wednesday plans to open its seventh global theme park, and its first in the Middle East, in the United Arab Emirates. The waterfront resort will be built on Yas Island in Abu Dhabi, already a major tourism hub home to attractions including the Formula One Abu Dhabi Grand Prix, Ferrari World, Warner Bros. World, SeaWorld, and a major waterpark. The new theme park will be developed in partnership with Abu Dhabi-based developer Miral, which will oversee construction and operations. Disney will lead the design and development while licensing its intellectual property and providing management services. According to a regulatory filing, Disney will not provide capital for the project but will earn royalties based on the resort's revenues, in addition to service fees. Abu Dhabi, the UAE capital, has focused heavily on cultural and tourism development in recent years. While traditionally seen as more conservative than neighboring Dubai, the city is home to institutions such as the Louvre Abu Dhabi and has several museums under construction. The announcement comes ahead of a visit by U.S. President Donald Trump to the Gulf region next week, during which he is expected to announce a series of business deals with Saudi Arabia, Qatar, and the UAE. The California-based entertainment giant revealed the project on the same day it reported better-than-expected second-quarter earnings. Shares of Disney jumped more than 9% in early trading. A projected opening date for the Abu Dhabi park has not yet been announced.
Yahoo
07-05-2025
- Entertainment
- Yahoo
Disney announces its first theme park in the United Arab Emirates
Disney will build its seventh theme park, this one in the United Arab Emirates, the entertainment company announced on Wednesday. The waterfront resort will be built on Yas Island on the outskirts of Abu Dhabi, already home to Formula One's Abu Dhabi Grand Prix, the Ferrari and Warner Bros. amusement parks, SeaWorld and a waterpark. The Formula One Abu Dhabi Grand Prix at the Yas Marina Circuit, UAE. - AP Photo/Darko Bandic, File Abu Dhabi is the capital of the United Arab Emirates, a federation of seven sheikhdoms on the Arabian Peninsula. Home to 9 million people, it has leveraged its long-haul carriers Emirates and Etihad Airways to bring in more tourists over the years. A real-estate boom and the city's highest-ever tourism numbers have made Dubai a destination as well as a layover. Disney and Miral, the Abu Dhabi developer overseeing the project, hope to capitalise on the 120 million airline passengers that travel through Abu Dhabi and Dubai each year. Related While long viewed as more buttoned up than the beaches and raucous nightlife in neighbouring Dubai, Abu Dhabi also is home to the Louvre Abu Dhabi and there are more museums currently under construction. The theme park announcement is being made ahead of a visit by US President Donald Trump to the region next week. Trump has promised a series of business deals with Saudi Arabia, Qatar and the UAE. The Cinderella Castle at the Magic Kingdom at Walt Disney World, Florida. - AP Photo/John Raoux, File The theme park will be built and operated by Miral, the company involved in the development of almost all of the entertainment complexes built on the island. Meanwhile, Disney will handle the design and development, also licensing its intellectual property and providing development and management services, according to a regulatory filing. The California company will not be providing any capital for the project. It will earn royalties based on the resort's revenues. It will also earn service fees. Last year, Disney announced that it was planning to invest $60 billion (€55.3 billion) in its theme parks over the next 10 years, which remain one of their biggest revenue grossers. A projected opening date for the UAE park has not been announced.
Euronews
07-05-2025
- Entertainment
- Euronews
Disney announces its first theme park in the United Arab Emirates
ADVERTISEMENT Disney will build its seventh theme park, this one in the United Arab Emirates, the entertainment company announced on Wednesday. The waterfront resort will be built on Yas Island on the outskirts of Abu Dhabi, already home to Formula One's Abu Dhabi Grand Prix, the Ferrari and Warner Bros. amusement parks, SeaWorld and a waterpark. The Formula One Abu Dhabi Grand Prix at the Yas Marina Circuit, UAE. AP Photo/Darko Bandic, File Abu Dhabi is the capital of the United Arab Emirates, a federation of seven sheikhdoms on the Arabian Peninsula. Home to 9 million people, it has leveraged its long-haul carriers Emirates and Etihad Airways to bring in more tourists over the years. A real-estate boom and the city's highest-ever tourism numbers have made Dubai a destination as well as a layover. Disney and Miral, the Abu Dhabi developer overseeing the project, hope to capitalise on the 120 million airline passengers that travel through Abu Dhabi and Dubai each year. Related Culture for Humanity and Beyond: Abu Dhabi Culture Summit debates the future of culture While long viewed as more buttoned up than the beaches and raucous nightlife in neighbouring Dubai, Abu Dhabi also is home to the Louvre Abu Dhabi and there are more museums currently under construction. The theme park announcement is being made ahead of a visit by US President Donald Trump to the region next week. Trump has promised a series of business deals with Saudi Arabia, Qatar and the UAE. The Cinderella Castle at the Magic Kingdom at Walt Disney World, Florida. AP Photo/John Raoux, File The theme park will be built and operated by Miral, the company involved in the development of almost all of the entertainment complexes built on the island. Meanwhile, Disney will handle the design and development, also licensing its intellectual property and providing development and management services, according to a regulatory filing. The California company will not be providing any capital for the project. It will earn royalties based on the resort's revenues. It will also earn service fees. Last year, Disney announced that it was planning to invest $60 billion (€55.3 billion) in its theme parks over the next 10 years, which remain one of their biggest revenue grossers. A projected opening date for the UAE park has not been announced.
Saudi Gazette
07-05-2025
- Business
- Saudi Gazette
Disney to open first theme park in the Middle East
ABU DHABI — The Walt Disney Company announced on Wednesday plans to open its seventh global theme park, and its first in the Middle East, in the United Arab Emirates. The waterfront resort will be built on Yas Island in Abu Dhabi, already a major tourism hub home to attractions including the Formula One Abu Dhabi Grand Prix, Ferrari World, Warner Bros. World, SeaWorld, and a major waterpark. The new theme park will be developed in partnership with Abu Dhabi-based developer Miral, which will oversee construction and operations. Disney will lead the design and development while licensing its intellectual property and providing management services. According to a regulatory filing, Disney will not provide capital for the project but will earn royalties based on the resort's revenues, in addition to service fees. Abu Dhabi, the UAE capital, has focused heavily on cultural and tourism development in recent years. While traditionally seen as more conservative than neighboring Dubai, the city is home to institutions such as the Louvre Abu Dhabi and has several museums under announcement comes ahead of a visit by U.S. President Donald Trump to the Gulf region next week, during which he is expected to announce a series of business deals with Saudi Arabia, Qatar, and the California-based entertainment giant revealed the project on the same day it reported better-than-expected second-quarter earnings. Shares of Disney jumped more than 9% in early trading.A projected opening date for the Abu Dhabi park has not yet been announced.
Saudi Gazette
07-05-2025
- Business
- Saudi Gazette
Disney to open new theme park in Abu Dhabi, its first in the Middle East
ABU DHABI — The Walt Disney Company announced on Wednesday plans to open its seventh global theme park, and its first in the Middle East, in the United Arab Emirates. The waterfront resort will be built on Yas Island in Abu Dhabi, already a major tourism hub home to attractions including the Formula One Abu Dhabi Grand Prix, Ferrari World, Warner Bros. World, SeaWorld, and a major waterpark. The new theme park will be developed in partnership with Abu Dhabi-based developer Miral, which will oversee construction and operations. Disney will lead the design and development while licensing its intellectual property and providing management services. According to a regulatory filing, Disney will not provide capital for the project but will earn royalties based on the resort's revenues, in addition to service fees. Abu Dhabi, the UAE capital, has focused heavily on cultural and tourism development in recent years. While traditionally seen as more conservative than neighboring Dubai, the city is home to institutions such as the Louvre Abu Dhabi and has several museums under announcement comes ahead of a visit by U.S. President Donald Trump to the Gulf region next week, during which he is expected to announce a series of business deals with Saudi Arabia, Qatar, and the California-based entertainment giant revealed the project on the same day it reported better-than-expected second-quarter earnings. Shares of Disney jumped more than 9% in early trading.A projected opening date for the Abu Dhabi park has not yet been announced.
