Tel Aviv: Israel’s far-right Finance Minister Bezalel Smotrich has sparked outrage by calling the Gaza Strip a “real estate bonanza.”
Speaking at a real estate conference in Tel Aviv on Wednesday, Smotrich said Israel was in talks with the United States to divide and develop 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 said. “This thing can turn into a real estate bonanza. I’m not kidding; it pays off.” He added that Israel had already completed the “demolition phase” in Gaza, referring to the destruction of existing infrastructure, which he claimed would make reconstruction cheaper.
The Palestinian Foreign Ministry condemned Smotrich’s remarks, calling them a sign of “moral and political bankruptcy.” The Ministry criticized Israel’s ongoing siege and military operations, which have caused widespread humanitarian suffering, and urged the international community to protect Palestinian civilians and halt Israeli actions.
Smotrich’s comments came days after Israel’s National Security Minister, Itamar Ben-Gvir, announced plans to build a “wonderful neighborhood” for Israeli police officers in Gaza following the current military operations.
The idea of turning Gaza into a lucrative development project echoes comments made earlier this year by US President Donald Trump, who suggested the territory could become a “Riviera of the Middle East.” Reports also indicated a Trump administration proposal to place Gaza under US control for at least ten years, with plans to develop it as a major tourist and technology hub.