Final Bow

Dubai buys QE2 for $100M

Copied from http://www.nypost.com/seven/06192007/news/worldnews/final_bow_worldnews_neil_graves.htm

June 19, 2007 -- The storied Queen Elizabeth 2 cruise ship is setting "sale" - to be purchased by a United Arab Emirates company for $100 million and converted into a dock-based hotel and entertainment complex.
The grand lady of the seas, bought from Cunard Line division of Carnival Corp., will spend her new life as a shopping center, four-star hotel, entertainment outlet and museum, Istithmar, a subsidiary of Dubai World, said yesterday.

Istithmar said it plans to berth the 40-year-old liner off Dubai's Palm Jumeirah, the world's largest manmade island, which is owned by another Dubai World company.

The QE2 will be delivered in November 2008 and refurbished over the following winter.

Istithmar said plans are to restore the QE2's original interior decor.

The vessel is scheduled to reopen at the beginning of 2009, the company said.

Launched in September 1967 by Queen Elizabeth II herself, the QE2 has been host to 2.5 million passengers. It was the longest-serving ship in the British company Cunard's 168-year history.

Cunard said it was pleased to see its aging flagship find a happy docking place.

"We are delighted that when her legendary career as an ocean liner ends, there will continue to be a permanent home for her that will enable future generations to continue to experience fully both the ship and her history," Cunard President Carol Marlow said.

The new owners said they were proud to own the ship.

"The QE2 is, without a doubt, one of the wonders of the maritime world, and it is easily the most famous serving liner in the world today," said Sultan Ahmed bin Sulayem, chairman of Dubai World.

"I am delighted we will be able to create a home for her on the newest wonder of the world, the Palm Jumeirah."

Palm Jumeirah is to be one of three manmade resort islands. Each is being built in the shape of a date palm tree.

neil.graves@nypost.com