Property prices on Abu Dhabi’s Yas Island and surrounding areas are expected to rise significantly following Wednesday’s announcement that Walt Disney Company will build its first Middle Eastern theme park in the emirate, property experts said.
The development, which will become Disney’s seventh theme park destination globally, is set to be located on the Yas Island waterfront, an area already commanding premium real estate prices and home to attractions including Ferrari World and Warner Bros. World.
Abu Dhabi’s real estate market had already been experiencing robust growth before the Disney announcement, with April transactions up 15.7 per cent from March, reaching AED 2.9 billion (£615 million), according to market data.
“Disneyland will be a game-changer for Abu Dhabi’s property landscape. We predict increased property demand on Yas Island and nearby areas, with buyers seeking high-quality, future-oriented homes,” said Nada Jaouhar, Abu Dhabi Branch Director at Betterhomes.
Investors have been showing particular interest in off-plan sales, which represented over 70 per cent of total transactions in April, indicating strong confidence in future developments. Premium locations including Yas Island, Saadiyat Island, and Al Jubail Island have been commanding top prices, with some villas on Al Jubail selling for up to AED 10 million and annual leases reaching AED 400,000.
The rental market is also expected to benefit from the development. April saw over 18,000 rental transactions totalling AED 1.3 billion, with two-thirds being new contracts rather than renewals, suggesting a growing population and increased housing demand.
Abu Dhabi’s new Disney Theme Park resort
The agreement between Disney and Miral, Abu Dhabi’s creator of immersive destinations and experiences, will see Miral fully develop and build the resort, with Disney leading creative design, attraction development and operational oversight.
During the announcement ceremony, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, said that the project reflects the UAE’s global standing as a leading destination in the leisure tourism sector.
The development aligns with the UAE’s startegy to diversify the economy and promote sustainable development. The creative and cultural economy has been identified as a key pillar in supporting economic diversification and enhancing GDP growth.
Mohamed Khalifa Al Mubarak, Chairman of Miral, said the collaboration “demonstrates the remarkable results of combining visionary leadership and creative excellence.”
Yas Island’s strategic location serves as a gateway connecting major tourism markets across the Middle East, Africa, India, Asia and Europe, potentially widening the investor base for surrounding properties.
Bob Iger, CEO of The Walt Disney Company, described the project as “an extraordinary opportunity” that will be “a cultural, entertainment and technological marvel.”
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