Warner Bros To Open Mega Theme Park In Abu Dhabi
The $1-B park at Yas Island is scheduled to open in Y 2018
Abu Dhabi will soon open a new $1-B Warner Bros, a unit of Time Warner (NYSE:TWX) themed destination, it was announced Tuesday.
Located on Yas Island, the development will include a theme park and the world’s first Warner Bros branded hotel.
The theme park, named Warner Bros World Abu Dhabi, will form the 1st phase of the project. Construction is underway and rides are in production, a statement said. The park is scheduled to open in Y 2018.
Warner Bros World Abu Dhabi will feature characters from its portfolio of DC Comics Super Heroes universe including Batman, Superman and Wonder Women and cartoons such as Bugs Bunny, Scooby-Doo and Tom and Jerry.
The new theme park will be situated alongside Ferrari World Abu Dhabi and Yas Waterworld, and should boost Yas Island’s annual visitors from 25-M in Y 2015 to 30-M in Y 2018.
The project is being developed by Yas Island operator Miral under license from Warner Bros Consumer Products.
Miral Chairman Mohamed Khalifa Al Mubarak said: “Miral’s investment in the Warner Bros World Abu Dhabi theme park is estimated at $1bn and is a milestone in the emirate’s journey to put Abu Dhabi on the global map and become one of the world’s leading tourist destinations.
“By meeting the global, regional and local demand for a world-class entertainment destination, supported by an equally world-class travel and tourism infrastructure, we are fulfilling our ambition to drive visitor numbers and enrich the UAE’s appeal as a truly international destination.”
Miral’s CEO Mohamed Abdullah Al Zaabi added: “Yas Island will continue looking to expand on its offerings for its visitors through strategic partnerships with world leading organisations.
“The Warner Bros themed destination will be a major step in maintaining Yas Island’s momentum and is expected to create more than 1000 jobs for the emirate.”
Abu Dhabi is looking to boost tourism numbers as it pushes ahead with its diversification strategy. The emirate welcomed 4.1-M guests in its hotels last year, up 18% Y-Y, and is currently undertaking an ambitious strategy to attract 7.5-M visitors per year by Y 2030.
|HeffX-LTN Analysis for TWX:||Overall||Short||Intermediate||Long|
|Bullish (0.36)||Very Bullish (0.57)||Neutral (0.19)||Bullish (0.31|
By Aarti Nagraj
Latest posts by Paul Ebeling (see all)
- F1: Liberty Media Fuels a Air of Uncertainty, Stock Tanks - November 14, 2018
- Warren Buffett Putting Cash to Work - November 14, 2018
- Victims of California’s Deadly Wildfire Filed Suit Against PG&E - November 14, 2018