Istithmar, Dubai government's investment arm, has announced purchase of the ocean liner Queen Elizabeth 2 for $100 million. It plans to turn the giant passenger ship into a first-class floating hotel, retail and entertainment destination, berthed off the artificial Palm Jumeirah island.
The Economist calls QE2 the world's most famous cruise liner. Launched in 1969, the QE2 has sailed 25 around-the world cruises, crossed the Atlantic more than 800 times and carried more than 2.5 million passengers.
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