Disney has purchased property on the island of Eleuthera and the Bahamian government has entered into an agreement with Disney to develop the property.
The Orlando Sentinel reports that Bahamas Prime Minister Hubert Minnis announced the purchase last weekend in a statement.
The statement said Disney's development of the 700-acre (280-hectare) property will amount to an investment of between $250 million and $400 million.
The statement also says Disney will donate 190 acres (more than 75 hecatres) of the land including the southernmost tip of the island to the government for a national park. The donated land has a value of $6.29 million.
Disney already has a private island, Castaway Cay, but its cruise line is expanding from four ships to five vessels by 2023.
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