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Dubai to buy QE2

Dubai, June 18, 2007

Dubai has agreed to buy the Queen Elizabeth 2 for $100 million and turn the cruise ship into a floating hotel off the emirate's man-made islands.

This was announced by private equity firm Istithmar.

The QE2 is the longest-serving ship in the 168 year history of the Cunard line, which is owned by Carnival, the world's largest cruise operator, Istithmar said in a statement.

Istithmar is the investment arm of Dubai World, the government agency that owns real-estate developer Nakheel, which is building three palm-frond shaped islands off Dubai's coast.Reuters




Tags: UAE | Dubai World | Istithmar | QE2 |

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