The Walt Disney Company announced its seventh theme park on Wednesday. It will be built on Yas Island in Abu Dhabi.

Disney's new theme park will be located on Abu Dhabi's Yas Island, about 8,400 miles away from Anaheim, California – the site of the first Disneyland that opened in 1955. "You start thinking about what is possible, actually envisioning a castle rising up in this case from the sand and also being on the water," Iger said.

The Abu Dhabi park announcement came as Walt Disney Co. said domestic theme park attendance and streaming helped power its earnings for the fiscal second quarter.