Israel's far-right finance minister Bezalel Smotrich has suggested that the Gaza Strip could be a real estate bonanza and that he is currently discussing plans with the U.S. on how to divide up the territory after the ongoing war, an idea that was previously condemned by the international community.
During an event in Tel Aviv, Smotrich mentioned, We've done the demolition phase... Now we need to build, referencing the extensive destruction inflicted on Gaza. He revealed that a business proposal related to Gaza was under consideration by former President Donald Trump.
In February, Trump had proposed the U.S. taking a long-term ownership stake in Gaza, envisioning it as a potential Riviera of the Middle East. These proposals would likely result in the forced displacement of Palestinians, raising serious legal and ethical concerns globally, as they would contravene international law.
An international outcry has followed Smotrich's recent comments, leading the U.S. State Department to be approached for a response. Trump's previous attempts to secure support for such plans faced backlash, being rejected by Palestinians, Arab states, and other nations. The plan, which envisioned Gaza being administered by the U.S. for a decade as it develops into a tourist destination, appeared to have lost traction within U.S. policy discussions.
According to the United Nations, Israel's military operations have caused massive devastation in Gaza, with estimates indicating that 92% of residential units are damaged or destroyed, along with extensive damage to schools and agricultural land.
U.N. estimations for reconstructing Gaza's infrastructure could exceed $53.2 billion over the next decade. Despite this, Smotrich reiterated his view that the reconstruction should also include financial strategies for land marketing, emphasizing the costs incurred during the conflict.
Smotrich is known for his ultranationalist views and has faced sanctions from multiple countries for inciting violence against Palestinians. He is actively involved in policies aimed at the expansion of Israeli settlements in occupied territories.
Israel's ongoing military actions in Gaza, initiated in response to the Hamas-led attack on October 7, 2023, have resulted in devastating human costs, with over 65,000 reported fatalities and widespread displacement within the territory. A recent UN commission concluded that Israel's actions constitute genocide, a claim stoutly denied by the Israeli government.