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QE2 likely to stay in Singapore as hotel | 28 February 2013

Far Eastern investors have saved the iconic QE2 cruise liner from the scrap-yard, proposing a deal that will see it come to Singapore or Hong Kong, commercialguru.co.sg reports.

Reports suggest that Singapore-based investment company Oceanic Group will pay $1 million per year to loan the ship from Dubai World – the government conglomerate that bought the liner in 2008. It will then have the option to buy the ship outright after 10 years, at a price expected to be around $35 million.

Oceanic Group plans for the liner to be transformed into a luxury 500-bed hotel, which is the latest of many suggestions for the Cunard vessel. These have included turning the QE2 into a floating hotel alongside the O2 Arena in London.

However, the financial crisis put paid to these ideas and according to telegraph.co.uk, it was rumoured that the ship would be sold for scrap. Fortunately, the new deal could prevent this from happening.

The Group’s managing director, Daniel Chui said: “The Queen Elizabeth 2 is starting the next exciting journey of her long and illustrious career.

“Our vision is for [the ship] to become a landmark cultural and tourist attraction – a beacon of luxury, glamour, quality and tradition – in the heart of a leading Asian city that shares her rich maritime heritage and is prepared to give this very special ship the prominent waterfront home she deserves.”

The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.

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Posted by Matt Roobol

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