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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.
As much as I love the UAE, this will be a problem for them in the future. Lets look at this from any democratic Country on Earth. If I decided not to turn... more
Wednesday, 22 May 2013 11:56 AM - Ty SaySalman Al, perhaps nobody has informed you of the fact that Britain has been 'paying back' for decades now, in giving safe haven to a vast swathe of imigrants... more
Wednesday, 22 May 2013 1:33 PM - MarkWell, it is their country, their rules..but i was thinking about the situation of firms who are forced to loose the staff, as I understand the firms got... more
Wednesday, 22 May 2013 10:43 AM - Baiju JaffarAs much as I love the UAE, this will be a problem for them in the future. Lets look at this from any democratic Country on Earth. If I decided not to turn... more
Wednesday, 22 May 2013 11:56 AM - Ty SayLet me put the entire issue in perspective. There are massive traffic problems on the roads of Kuwait, where Kuwait can boast high road fatalities and... more
Tuesday, 21 May 2013 1:28 PM - AbdullahSalman Al, perhaps nobody has informed you of the fact that Britain has been 'paying back' for decades now, in giving safe haven to a vast swathe of imigrants... more
Wednesday, 22 May 2013 1:33 PM - MarkHappy employees, happy customers. Quite simple actually. 60,000 unhappy staff, well, you do the math on how many unhappy customers can result from poor... more
Monday, 20 May 2013 10:27 AM - Louie TedescoIslam is not better than any other religion, to all the muslims out there, stop putting yourself on a pedestal, you are filled with self importance that... more
Tuesday, 14 May 2013 9:58 AM - graemeAs much as I love the UAE, this will be a problem for them in the future. Lets look at this from any democratic Country on Earth. If I decided not to turn... more
Wednesday, 22 May 2013 11:56 AM - Ty Say
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