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.

Walt Disney announced plans on Wednesday to open a Disney theme park in United Arab Emirates' capital Abu Dhabi in collaboration with regional developer Miral Group, representing its first major new theme park in nearly a decade and its first in the Middle East.

Disney announced plans for its first Middle East theme park in Abu Dhabi, which will be fully indoors to combat extreme heat. Local developer Miral Group will fully fund, build, and operate the park, leveraging advanced technology and Disney's global expertise.