"Queen Elizabeth 2" was retired from active Cunard service on 27 November 2008. She had been acquired by the private equity arm of Dubai World, which planned to begin conversion of the vessel to a 500-room floating hotel moored at the Palm Jumeirah, Dubai. The 2008 financial crisis intervened, however, and the ship was laid up at Dubai Drydocks and later Mina Rashid. Subsequent conversion plans were announced in 2012 and then again by the "Oceanic Group" in 2013, but both plans stalled. In November 2015, Cruise Arabia & Africa quoted DP World chairman Ahmed Sultan Bin Sulayem as saying that QE2 would not be scrapped and a Dubai-based construction company announced in March 2017 that it had been contracted to refurbish the ship. The restored QE2 opened to visitors on 18 April 2018, with a soft opening. The grand opening was set for October 2018.