The Walt Disney Company and Miral have announced an agreement to create a new Disney theme park resort on Yas Island in Abu Dhabi, which will become Disney's seventh global destination, the company announced on May 7.

The project, to be built by Miral with Disney providing creative design and operational oversight, represents a major tourism development for the region that will blend Disney's storytelling with Abu Dhabi's culture and architecture on a waterfront location strategically positioned within a four-hour flight of one-third of the world's population.

The waterfront resort will connect travellers from the Middle East, Africa, India, Asia, and Europe, combining Disney's iconic stories and attractions with Abu Dhabi's culture and architecture.

 Mohamed Khalifa Al Mubarak, Chairman at Miral, stated that the collaboration demonstrates "the remarkable results of combining visionary leadership and creative excellence" and will inspire generations across the region.

The new resort will be fully developed and built by Miral, while Disney and its Imagineers will lead creative design and operational oversight, with Miral operating the resort upon completion.

Robert A. Iger, Chief Executive Officer of The Walt Disney Company, described the announcement as "a thrilling moment" and said Disneyland Abu Dhabi "will be authentically Disney and distinctly Emirati" offering "deeply immersive entertainment experiences in unique and modern ways."

The UAE's strategic location within a four-hour flight of one-third of the world's population makes it a significant tourism gateway, with Abu Dhabi and Dubai airports handling 120 million passengers annually.

Josh D'Amaro, Chairman of Disney Experiences, called the project "a new frontier in theme park development" that would be "the most advanced and interactive destination" in Disney's portfolio, reaching guests in a whole new part of the world.

Mohamed Abdalla Al Zaabi, Group CEO of Miral, described the project as "a historic milestone" in Yas Island's journey to become a global destination for entertainment and leisure.

Further details will be announced as the project progresses, with additional information available in Disney's 10-Q filing.