CEO Bob Iger said the company's "imagineers" have already started designing the park, but he declined to say when it would open.

Disney’s new waterfront resort will be built next to SeaWorld, Ferrari World and Warner Bros. World theme parks on Yas Island in the United Arab Emirates.

Could a Disney vacation in Abu Dhabi be a bargain compared with the American equivalent? Travelers may think of the Middle Eastern destination as a place of unbridled luxury, replete with Michelin-starred restaurants and hotels whose rates can run as high as $1 million per week.