I
srael’s far‑right finance minister Bezalel Smotrich told a Tel Aviv gathering that the Gaza Strip could become a “real estate bonanza” and that he is negotiating with the United States on how to split the territory after the war. He said a business plan sits on President Trump’s desk and that “we’ve finished the demolition phase… now we need to build.”

    In February, Trump suggested the U.S. take a “long‑term ownership position” over Gaza, dubbing it the “Riviera of the Middle East.” The proposal would force Palestinians out of the area, violating international law, though the U.S. and Israel framed it as “voluntary” emigration. The idea was widely rejected by Palestinians, Arab states and the international community, and Trump later described it as a concept that “was really embraced by a lot of people, but also some people didn’t like it.” The Washington Post reported that a version of the plan—turning Gaza into a U.S. trusteeship for at least a decade to develop it into a tourism and high‑tech hub—was again under discussion.

    Israel’s military campaign has devastated Gaza. The United Nations estimates that 92 % of housing units are damaged or destroyed, 91 % of schools need full reconstruction, and 86 % of cropland is ruined. The UN projected reconstruction costs at $53.2 billion (£46.1 bn) over ten years. Smotrich, who has been sanctioned by the UK and others for incitement, said, “We paid a lot of money for this war, so we need to divide how we make a percentage on the land marketing later.”

    Smotrich, leader of the Religious Zionist party, controls planning in the West Bank and has pushed expansionist policies. In late August he announced a plan to annex about 82 % of the West Bank—roughly four‑fifths of the territory—claiming it aligns with the principle of “maximum land with minimum Arabs.”

    Since 1967, Israel has built around 160 settlements housing 700,000 Jews on land Palestinians seek for a future state, including Gaza. These settlements are illegal under international law, and 3.3 million Palestinians live nearby.

    Israel launched its Gaza offensive in response to the Hamas attack on 7 October 2023, which killed about 1,200 people and took 251 hostages. Since then, at least 65,062 people have died in Israeli strikes, nearly half women and children, according to Gaza’s health ministry. A UN commission of inquiry this week concluded that Israel committed genocide against Palestinians in Gaza—a claim the Israeli government has denied.