How Much Did Dubai Pay for the QE2?
Dubai, known for its opulence and grandeur, made headlines in 2008 when it acquired one of the most iconic ocean liners in history – the Queen Elizabeth 2, also known as the QE2. The QE2 had a long and illustrious career as a luxury cruise ship before being retired and sold to Dubai.
But how much did Dubai actually pay for this majestic vessel? Let’s dive into the details.
The Acquisition
The acquisition of the QE2 by Dubai was not a simple purchase but rather a complex deal that involved multiple negotiations. In June 2007, Dubai World, a state-owned investment company, announced its intention to acquire the QE2 from Cunard Line, the ship’s previous owner.
After months of negotiations, an agreement was reached in November 2007. Dubai World paid approximately $100 million to acquire full ownership of the QE2.
This amount included not only the cost of purchasing the vessel but also additional expenses related to refurbishment and transportation.
Refurbishment and Transformation
Once acquired, Dubai had ambitious plans for transforming the QE2 into a floating luxury hotel and entertainment destination. The ship underwent an extensive refurbishment to meet these new requirements.
The refurbishment process required substantial investments to modernize and upgrade various aspects of the ship. This included renovating cabins, restaurants, lounges, and recreational facilities while preserving its historical charm.
The estimated cost of refurbishing the QE2 was around $100 million. This significant investment ensured that the ship maintained its legendary status while offering world-class amenities to visitors.
The Transportation Cost
Transporting the QE2 from its original location to Dubai was no small feat. The ship had to be towed over long distances, crossing the Atlantic Ocean and navigating through the Suez Canal before reaching its final destination.
The transportation cost for relocating the QE2 to Dubai was estimated at approximately $30 million. This expense covered the hiring of tugboats, crew salaries, fuel, and other logistical requirements.
Total Investment
Taking into account the acquisition cost, refurbishment expenses, and transportation costs, Dubai’s total investment in acquiring the QE2 amounted to an impressive $230 million. This hefty amount reflects both the value placed on preserving a piece of maritime history and Dubai’s commitment to creating unique attractions for tourists and residents alike.
The Legacy Continues
Since its arrival in Dubai in 2008, the QE2 has been a prominent feature of the city’s waterfront. It has been transformed into a luxury hotel that offers guests a chance to experience life on this legendary liner.
Dubai’s investment in acquiring and refurbishing the QE2 has not only preserved a significant piece of maritime history but has also created a unique tourist attraction that showcases the city’s commitment to innovation and luxury.
In conclusion, Dubai paid approximately $100 million to acquire full ownership of the Queen Elizabeth 2. Including refurbishment expenses totaling around $100 million and transportation costs of approximately $30 million, Dubai’s total investment in acquiring this iconic ocean liner amounted to an impressive $230 million.
The transformation of the QE2 into a floating luxury hotel stands as a testament to Dubai’s vision for creating extraordinary experiences for visitors from around the world.