Dubai is to buy the Queen Elizabeth 2 cruise ship for $100m

Posted on: June 18, 2007

Written by Select Property

QE2 set to become floating hotel

Dubai is to buy the Queen Elizabeth 2 cruise ship for $100m (£50.5m) and turn it into a floating hotel off the Gulf emirate’s man-made islands.
The 70,000-tonne vessel, launched by the Queen in 1967, is to be sold to the Dubai World firm by Carnival, the world’s largest cruise operator.

Dubai government-owned real-estate developer Nakheel is building three palm-frond shaped isles off its coast.

The ship will be berthed from 2009 at a pier at the Palm Jumeirah development.

‘Maritime nation’

Dubai World, whose investment arm Istithmar has made the purchase, also owns shipping company P&O.

Istithmar hopes to recreate the QE2′s original interior decor and fittings, and to establish a museum charting the ship’s history.

Dubai World chairman Sultan Ahmed bin Sulayem said: “Dubai is a maritime nation and we understand the rich heritage of QE2.

“She is coming to a home where she will be cherished.”

Source; BBC News