Diar inaugurated last week its luxury Regis Cairo Hotel in Cairo suspended for several years owing to the diplomatic crisis that erupted in June 2017 between Qatar on one side and Egypt, Saudi Arabia, UAE and Bahrain on the other, over accusation that Doha sponsors terrorism. Tiny gas-rich country denied charges.
Early last week, both Saudi Arabia and Egypt agreed to open their borders to Qatar following mediation by Kuwait and the United States.
The agreements came hours before the 41st summit of the Gulf Cooperation Council, GCC, which in a final declaration said all sides agreed to work towards peace in the region and form a joint front against Iran.
Egypt froze Diar’s projects in the country in 2018. The projects included Hurghada resort, City Gate project and a 300k square meter resort in Sharm el Sheikh.