The Middle East is looking to cement itself as the new global theme-park hot spot. Disney is the latest and biggest entertainment company to plant a flag in the region, as it said its seventh global theme park will be located in Abu Dhabi.

Walt Disney has announced plans to open its first theme park in the Middle East. The resort, which will be in the United Arab Emirates on Abu Dhabi's Yas Island, is a collaboration between Walt Disney and local leisure and entertainment company Miral.

Disney announced that it is building a new theme park and resort in Abu Dhabi ahead of its second-quarter earnings call on Wednesday.