For the first time in 15 years, the Walt Disney Company has announced the development of a new theme park - a resort destination in Abu Dhabi that marks the company’s entry into the Middle East.

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.

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