A potential “real estate bonanza” could unfold in Gaza according to Israeli Finance Minister Bezalel Smotrich. The far-right politician, who has already been sanctioned by the UK, Australia, Canada and New Zealand for repeatedly inciting violence against Palestinians, made the statements at the Urban Renewal Summit in Tel Aviv on Wednesday, while claiming that there is already “a business plan on President Trump’s table”.
The ultranationalist leader of Israel‘s Religious Zionist Party also reiterated that negotiations with the US over settlements in Gaza are ongoing. Insisting that “the plan pays for itself”, he went even further and claimed that since “we paid a lot of money for this war, we need to divide how we make a percentage on the land marketing later in Gaza”.
A White House official, when asked about Smotrich’s statement, told CNN “President Trump has long promoted solutions that would help the people of Gaza rebuild. However, Hamas must first agree to disarm and give up rule in Gaza”.
President Trump in February suggested that the US could “take a long-term ownership position” of Gaza and turn it into a high-end luxury resort, with the potential to turn it into “the Riviera of the Middle East”. The idea has been widely rejected by both Arab and European nations and has been condemned by most of the international community and humanitarian organisations as it would involve the forced displacement of Palestinians from their land, a violation of international law.
This is not the first time Israeli Finance Minister Bezalel Smotrich has spoken about a “real estate bonanza” in Gaza. In July, he addressed a Knesset conference titled “The Gaza Riviera – From Vision to Reality,” where participants outlined proposals to reestablish Jewish settlements in the Gaza Strip. During his remarks, he declared that Gaza would become an “inseparable part of the State of Israel.”
Settlements are illegal under international law.
