Israel's far-right finance minister Bezalel Smotrich has said the Gaza Strip could be a real estate bonanza and that he is in talks with the US about dividing up the territory after the war - an idea previously condemned internationally.
Speaking at an event in Tel Aviv, he stated, a business plan is on President Trump's table. Smotrich remarked, We've done the demolition phase... Now we need to build. In February, Donald Trump floated plans for the US to take a long-term ownership position over Gaza, suggesting it could be transformed into the Riviera of the Middle East. However, this idea was met with significant backlash and is viewed as violating international law due to the forced displacement it would entail.
Despite claims from the US and Israel that any evacuation would be voluntary, Smotrich's comments have reignited international criticism, particularly from Palestinian leaders and Arab states, who firmly oppose the notion of foreign control over their land.
The prior proposals from Trump, which involved significant development initiatives for Gaza, appeared to be abandoned by the White House. Nevertheless, recent discussions have suggested a version of the concept is back under consideration, envisioning Gaza as a US-administered trusteeship aimed at bolstering tourism and high-tech manufacturing.
The ongoing conflict has already wrought significant destruction across Gaza, with UN reports claiming 92% of housing units have suffered damage, and the reconstruction costs are projected to exceed $53 billion over the next decade. In response to the devastation, Smotrich emphasized the need to benefit from the reconstruction initiatives, stating, We paid a lot of money for this war... So we need to divide how we make a percentage on the land marketing later.
As Israel continues its military campaign against Gaza following a Hamas-led attack in October 2023, the humanitarian crisis deepens, drawing increasing attention to the geopolitical implications of Smotrich’s remarks on future governance and the rights of the Palestinian people.