Cunard Line has sold the QE2 cruise liner for $100m to Dubai World, a company owned by Istithmar, the investment arm of the government of Dubai. The Independent. The Times. Financial Times. Daily Telegraph

The 40-year-old vessel will be delivered to Dubai World in November 2008 and refitted as a hotel, retail and entertainment facility at a pier at the Palm Jumeirah, the luxury resort that is the world’s largest man-made island.