Israeli Minister Smotrich Calls Gaza a 'Real Estate Bonanza'

Tel Aviv: Israel’s Far-right Finance Minister Bezalel Smotrich has ignited controversy by describing the Gaza Strip as a “real estate bonanza.”

Speaking at a real estate conference in Tel Aviv on Wednesday, September 18, Smotrich revealed that Israel is in discussions with the United States (US) about dividing and developing the war-torn territory into a profitable venture.

“There’s a business plan — listen to me carefully — there’s a business plan set by the most professional people there is and it’s on President Trump’s table,” Smotrich stated. “This thing can turn into a real estate bonanza. I’m not kidding; it pays off.”

He went on to explain that Israel had already completed the “demolition phase” in Gaza, referring to the destruction of existing infrastructure, and that the cost of reconstruction would be significantly lower.

The Palestinian Foreign Ministry quickly condemned Smotrich’s statements, labelling them a sign of “moral and political bankruptcy.” The Ministry criticised Israel for continuing its siege and military operations, which have caused significant humanitarian suffering in Gaza. They also urged the international community to intervene to protect Palestinian civilians and halt Israeli actions in the region.

Smotrich’s comments follow similar remarks made by Itamar Ben-Gvir, Israel’s National Security Minister, who on Monday, September 15, announced plans to build a “wonderful neighbourhood” for Israeli police officers in Gaza following the conclusion of Israel’s current military operations.

The idea of turning Gaza into a lucrative development project aligns with remarks made earlier this year by Donald Trump, the US President, who described the possibility of a US takeover of Gaza, suggesting it could be transformed into a “Riviera of the Middle East.” Reports also revealed a plan circulated within the Trump administration that proposed placing Gaza under US control for at least ten years, with the aim of turning it into a major tourist and technology hub.