Dubai: Dubai investment firm Istithmar has bought the famous cruise liner Queen Elizabeth 2 (QE2) from its owner Cunard Line for $100 million and will turn the ship into a luxury hotel at the Palm Jumeirah.

The QE2, which will also have shops on board, will be delivered to Dubai in November 2008 and after that it will cease being an ocean-going passenger vessel.

“From 2009, the vessel will be berthed at a specially-constructed pier at the Palm Jumeirah to create a luxury floating hotel, retail and entertainment destination,” Istithmar said in a statement… MORE