Israel's Finance Minister Proposes Gaza Real Estate Bonanza Amid Humanitarian Crisis
Israeli Finance Minister Bezalel Smotrich has proposed a controversial plan to turn the devastation in Gaza into a lucrative real estate project, sparking significant legal, political, and humanitarian concerns. Speaking at a real estate conference in Tel Aviv, Smotrich claimed discussions were underway with the US about transforming Gaza into a business venture.
According to NBC, Smotrich stated, “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, and how this thing turns into a real estate bonanza. I’m not kidding; it pays off.”
For context, Donald Trump once proposed turning Gaza into a “Riviera of the Middle East.” Smotrich added that Israel had “paid a lot of money for this war” and expected to profit from land in Gaza. He emphasized that the “demolition phase” was complete and that rebuilding would now be cheaper. “I have started negotiations with the Americans — I say this not jokingly — we need to decide how to divide the percentage from land marketing later in Gaza. And now, no kidding, we’ve completed the demolition phase, which is always the first step of urban renewal. Now we need to build; it’s much cheaper,” he said.
However, legal concerns over Smotrich’s plan are significant. Law professor Adil Haque from Rutgers University warned that such a plan would violate international law. “This is tied to the idea of expelling the civilian population and taking permanent control over Gaza. That is illegal,” Haque said. The comments are reminiscent of Trump’s remarks earlier this year, when he suggested the US could take over Gaza. The White House has not formally responded to Smotrich’s proposal, but an official confirmed to NBC that Trump supports reconstruction efforts in Gaza, on the condition that Hamas disarms and steps down from power.
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, the official said in a statement to NBC. Haque criticized the idea of turning destruction into profit, calling it “appalling.” He argued that displacing civilians and then using their land for business ventures crosses a moral line. “Killing, injuring, displacing ordinary people is one of the most serious actions that any state can take, and they should only do so when it’s absolutely necessary for some defensive purpose,” Haque stated. “To seek instead to profit by it, to acquire territory, to sell it to others, to benefit from it is just completely unacceptable.”
Meanwhile, Israeli airstrikes continue to pound Gaza City. On Wednesday alone, more than 100 people were reported killed, 80 of them in Gaza City. Thousands of Palestinians have fled south, desperately looking for cover, though many fear they may never be able to return home if plans like Smotrich’s move forward.
Recently, a United Nations commission accused Israel of committing genocide in Gaza. It urged world leaders to hold Israeli officials accountable for the devastation. Since the war began with Hamas’ deadly attack that killed 1,200 Israelis and led to 250 hostages in October 2023, Gaza has faced relentless strikes. More than 65,000 Palestinians have been killed, according to local health officials, a toll considered credible by the UN and international experts. The Israeli military believes around 20 of the 48 hostages still in Gaza are alive.
