Israel's Finance Minister, Bezalel Smotrich, has publicly confirmed that discussions are underway with the United States regarding a post-war plan for Gaza. Speaking at a conference, Smotrich described a vision to transform the territory into a significant real estate opportunity, stating that the initial demolition phase of this urban renewal has already been completed.
Key Takeaways
- Finance Minister Bezalel Smotrich confirmed negotiations with the U.S. about a future plan for Gaza.
- He referred to the plan as a potential "real estate bonanza" and discussed sharing land percentages.
- The proposal is linked to a plan reportedly circulating within the Trump administration, known as the "GREAT Trust."
- The vision includes placing Gaza under a U.S. trusteeship for at least a decade to oversee its reconstruction.
Minister Outlines Vision at Real Estate Summit
During his address at the Urban Renewal Summit 2025, an event organized by the Real Estate Center and Madlan, Finance Minister Bezalel Smotrich provided his first official confirmation of ongoing discussions about a comprehensive redevelopment plan for the Gaza Strip. He framed the initiative in economic terms, suggesting a future for the territory that involves significant construction and investment.
Smotrich stated that he has personally initiated these discussions with American officials. His remarks indicated a financial motivation behind the plan, linking it to the costs incurred during the conflict.
"I’ve begun negotiations with the Americans, and I’m saying this seriously, because we paid a lot of money for this war," Smotrich said at the summit. "We need to work out how we share percentages on the land."
He further elaborated on the process by comparing it to urban renewal projects. "The demolition phase, the first stage of urban renewal, we’ve already done," he added. "Now we need to build." This statement directly connects the widespread destruction in Gaza to the initial phase of a larger construction project.
A Controversial Analogy
Smotrich's comparison of the war's destruction to the "demolition phase" of an urban renewal project has drawn significant attention. The statement frames the military conflict as a preparatory step for future real estate development.
The "GREAT Trust" Proposal
The plan Smotrich referenced appears to be connected to a proposal that has been circulating within circles associated with the Trump administration. Initially reported by Ynet in May of the previous year under the name "Gaza 2035," the plan has since been rebranded.
It is now known as the "GREAT Trust," which is an acronym for Gaza Reconstitution, Economic Acceleration and Transformation Trust. According to reports from The Washington Post in August, this initiative outlines a detailed vision for the territory's future governance and economy.
Key Components of the Plan
The GREAT Trust proposal includes several ambitious elements aimed at completely transforming the Gaza Strip. The core components of the reported plan are:
- U.S. Trusteeship: Placing Gaza under United States trusteeship for a minimum period of 10 years.
- Economic Transformation: Rebuilding the area into a tourist destination, potentially with luxury resorts.
- Technological Hub: Developing a center for technology and high-tech manufacturing industries.
Smotrich described the proposal as a "business plan" developed by highly professional individuals. He noted that the plan is now on the desk of U.S. President Donald Trump. "We are checking how this becomes a real estate bonanza—I’m not joking—and pays for itself," the Finance Minister remarked.
From "Gaza 2035" to "GREAT Trust"
The concept of redeveloping Gaza is not entirely new. A vision document titled "Gaza 2035" was first revealed by Ynet, outlining a similar transformation. The evolution of this idea into the "GREAT Trust" suggests a more formalized proposal is being considered by political figures in the United States.
Diplomatic and International Implications
Smotrich's public comments arrive at a sensitive time for Israel on the international stage. There is growing global momentum for the recognition of a Palestinian state, and Israel has faced increasing diplomatic pressure regarding its conduct in the prolonged Gaza conflict.
Prime Minister Benjamin Netanyahu has reportedly received warnings about the country's growing isolation. Other Israeli officials have also expressed concerns about the consequences of the ongoing war.
Foreign Minister Gideon Sa’ar has previously warned that the extended conflict carries a significant price for Israel, both diplomatically and economically. Smotrich's statements, which focus on the economic and real estate potential of a post-war Gaza, introduce a new and controversial dimension to the public discourse surrounding the conflict's resolution and the future of the territory.
The confirmation of negotiations with the U.S. on such a plan signals a concrete step toward defining "the day after" in Gaza, though the proposal's feasibility and international acceptance remain highly uncertain.
