Istithmar World 'considering' QE2 future

Investment arm admits it is considering 'a number of options' for the cruise liner.
OUT OF STEAM: The QE2 arrived in Dubai in November 2008, amid much fanfare. Its future, however, remains unclear.
By Shane McGinley
Mon 08 Feb 2010 11:23 AM

Dubai World investment arm Istithmar World (IW) has admitted it is considering “a number of options” regarding the future of the QE2, the luxury cruise liner which it paid $100m for three years ago.

“There are a number of options being considered for QE2. IW is considering which option will best maximise value of the vessel,” a spokesperson said in a statement on Monday, following reports that Dubai World is preparing to sell a number of its high profile assets in order to finance its debt repayments.

The assets reported to be for sale include the QE2 and Canadian circus group Cirque du Soleil.

In January, IW confirmed that it had abandoned a plan to send the liner to South Africa for the football World Cup.

The ship is currently moored in Port Rashid in Dubai, where she arrived amid much fanfare in November 2008. The intention then was to convert the ship into a floating hotel, which would have seen her eventually moored at the Palm Jumeirah.

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