The QE2 is to be retired as a cruise liner and adapted into a floating hotel in Dubai, its owner Cunard has announced.
In November next year the iconic vessel will be presented to government-owned Dubai World ahead of its permanent berthing at the Palm Jumeirah, the world's largest man-made island.
"QE2 is without a doubt one of the wonders of the maritime world, and is easily the most famous serving liner in the world today. I am delighted we will be able to create a home for her on the newest wonder of the world, the Palm Jumeirah," commented Sultan Ahmed bin Sulavem, chairman of Dubai World.
The $100 million (£50.4 million) deal will see Dubai World recreate the original decor and fittings of the QE2, which was launched by the Queen in September 1967.
Under plans unveiled today, visitors will be able to stay at the berthed QE2 from 2009 onwards.
The QE2 is the longest-serving ship in Cunard's 168-year history, having carried more than 2.5 million passengers as it completed 25 world cruises and 800 Atlantic crossings.
Carol Marlow, president and managing director of Cunard, said: "We are delighted that when her legendary career as an ocean liner ends there will continue to be a permanent home for her that will enable future generations to continue to experience fully both the ship and her history."
Sultan bin Sulavem added: "QE2 at the Palm Jumeirah will become one of the must-see experiences of Dubai and of the Middle East. We are investing in creating a truly global tourism destination.
"Dubai is a maritime nation and we understand the rich heritage of QE2. She is coming to a home where she will be cherished."
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