Manfred Ursprunger, CEO of QE2 Enterprises, Nakheel Hotels, said:
"The investment Nakheel will be making in the QE2 will ensure that she continues to be a beacon of sophistication for generations to come and maintains her rich heritage and iconic stature. QE2 has always been synonymous with luxury, elegance and exclusivity, and these are the characteristics that we are taking as the inspiration for her future."
We are proud to be the custodian of such a magnificent British icon and will utilize our resources to maintain the integrity and spirit of QE2, as envisioned by her original design team led by Dennis Lennon, and usher in the next exciting chapter of her rich and dignified life."
QE2 is set to arrive at Dubai port Mina Rashid on 26 November. On her arrival, she will be greeted at The World islands by a flotilla of local yachts, boats and leisure-craft led by a Royal Navy Frigate.
Once refurbished, QE2 will be set afloat on the eastern side of the trunk of Palm Jumeirah at the end of a specially designed, prestigious land-bridge precinct that will evoke all the grandeur, luxury and exclusivity associated with ocean cruise liners.
Plans for QE2 include her transformation into an ultra-luxury floating hotel where she will form the centre-piece of a luxurious residential, entertainment, marina, and hotel development off the trunk of Palm Jumeirah.
A heritage museum displaying artifacts from QE2 and of local maritime history will also be a prominent feature in the precinct which will also contain a luxurious, West-end style theatre capable of staging the very best, full-scale West-end and Broadway productions
QE2 was purchased last year by Nakheel's parent company, Dubai World. She is arguably one of the world's most famous ships and has circumnavigated the world 25 times, crossed the Atlantic more than 800 times and carried more than 2.5 million passengers including kings and queens, prime ministers and presidents, astronauts and many international celebrities. She survived a 95 ft wave during Hurricane Luis, carried 3000 troops to the Falklands War and rescued 500 passengers from a burning ship. She is a record breaker for both speed and endurance, has featured in countless films and television shows and draws crowds to every port she docks in.
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