Sphere Entertainment Co. has secured a USD $1.7 billion investment from Abu Dhabi’s Department of Culture and Tourism (DCT Abu Dhabi) to build the first Sphere venue outside the United States.
The investment covers the construction phase of Sphere Abu Dhabi, which will be built on Yas Island and is expected to be completed by the end of 2029.
That means the NYSE-listed company (SPHR) will not be putting up its own capital to fund the venue’s construction – a model consistent with the franchise approach Sphere Entertainment has pursued for its international expansion.
When the Abu Dhabi partnership was first announced in October 2024, MBW reported that DCT Abu Dhabi would pay Sphere Entertainment a “franchise initiation fee” for the right to build the venue using the company’s proprietary designs, technology, and intellectual property.
The $1.7 billion construction cost announced on Thursday (May 14) now puts a price tag on that commitment.
“In a region where the appetite for world-class experiences continues to grow, our USD 1.7 billion investment in its construction phase sends a clear signal: Abu Dhabi is open, ambitious, and unwavering in its direction.”
HE Mohamed Khalifa Al Mubarak, DCT Abu Dhabi
HE Mohamed Khalifa Al Mubarak, Chairman of DCT Abu Dhabi, said: “Abu Dhabi has always built for the long term, and Sphere Abu Dhabi is a powerful demonstration of that commitment.
“In a region where the appetite for world-class experiences continues to grow, our USD 1.7 billion investment in its construction phase sends a clear signal: Abu Dhabi is open, ambitious, and unwavering in its direction.
“This project reflects the strength of Abu Dhabi’s international partnerships, built on shared ambition and mutual confidence in what this emirate represents as a global destination.
“Together, we are creating a venue that will draw our community, visitors, creators and investors to Yas Island and Abu Dhabi for decades to come.
“And at its heart, Sphere Abu Dhabi will be a platform for Emirati culture, Emirati talent and Emirati storytelling, shared with the world on the grandest stage ever built.”
James L. Dolan, Executive Chairman and CEO of Sphere Entertainment, said: “Sphere Abu Dhabi is the first step in realizing our vision for a global network of venues.
“Abu Dhabi is a premier international capital city, and its ambition, infrastructure, and position as a cultural crossroads make it a natural home for Sphere.
“Abu Dhabi is a premier international capital city, and its ambition, infrastructure, and position as a cultural crossroads make it a natural home for Sphere.”
James L. Dolan, Sphere Entertainment
“Sphere Abu Dhabi will establish Yas Island as a destination in the region for immersive experiences, and we look forward to working with DCT Abu Dhabi to see this venue come to life.”
Dolan also serves as Executive Chairman and CEO of Madison Square Garden Entertainment.
Sphere Abu Dhabi will be built on a plot of land between Yas Mall and SeaWorld Abu Dhabi, with a capacity of up to 20,000 – echoing the scale of Sphere in Las Vegas.
The venue will host three main categories of events: Sphere Experiences, proprietary immersive productions featuring multi-sensory storytelling; concert residencies; and marquee and brand events.
Plans include the creation of Sphere Experiences conveying Emirati culture and heritage, the display of Emirati artists’ work on the Exosphere – the spherical LED screen that forms the venue’s exterior – and concerts featuring local and Arabic artists alongside global acts.
The $1.7 billion investment in Sphere Abu Dhabi dwarfs the funding model for the company’s other announced expansion project.
Sphere Entertainment in January confirmed plans for a smaller-scale, 6,000-capacity venue at National Harbor in the Washington, D.C. metropolitan area, which would utilize a combination of public and private funding, including approximately $200 million in state, local, and private incentives.
Plans to build a Sphere in London were scrapped in January 2024 after Mayor Sadiq Khan blocked the project.
The first Sphere venue opened in Las Vegas in September 2023 and has since hosted concert residencies from acts including the Eagles, Dead & Company, Phish, the Backstreet Boys, and Kenny Chesney.
Metallica has announced a 24-concert residency at Sphere beginning in October 2026.
Sphere Entertainment reported revenues of $386.4 million in Q1 2026, up 38% year-over-year, with its Sphere segment generating $266.0 million – up 69% YoY.
For the full year 2025, the company reported revenues of $1.22 billion, up 8% year-over-year.
Yas Island is also the planned location of an upcoming Disney theme park resort and is already home to attractions including Ferrari World, Warner Bros. World, and the Formula 1 Etihad Airways Abu Dhabi Grand Prix.Music Business Worldwide
