Disney to open new theme park in Abu Dhabi

However, there is no timetable for when it might open.

Transcript

00:00Disney has announced plans to open a brand new theme park. The seventh park in the Disney

00:04portfolio will be built in Abu Dhabi. While the company did not reveal when the park would open,

00:09CEO Bob Iger told CNBC that it typically takes about two years to develop a park and then another

00:13five years to build it. Iger also said, as our seventh theme park destination, it will rise from

00:18this land in spectacular fashion, blending contemporary architecture with cutting-edge

00:23technology to offer guests deeply immersive entertainment experiences in unique and modern

00:27ways. However, this park will be a bit different from other Disney destinations. The new project

00:32will be fully developed by a firm from the United Arab Emirates. Disney won't pay to build the park,

00:36but it will take home royalties once it opens. Disney's experiences business, which accounts

00:41for parks and resorts, accounted for 37% of its total revenue and 60% of its operating income in

00:472024. That'll do it for your daily briefing. From New York City, I'm Kelsey Barbario with The Street.