Israel's Finance Minister, Bezalel Smotrich, described the Gaza Strip as a potential "real estate bonanza" during a conference in Tel Aviv on Wednesday. The far-right official also stated that a "business plan" for the territory's redevelopment has been delivered to U.S. President Donald Trump's desk.
Smotrich's remarks come amid extensive destruction in Gaza, where the United Nations reports the majority of residential buildings have been damaged or destroyed since October 2023. His comments have drawn criticism and align with previous suggestions from U.S. political figures about transforming the coastal enclave.
Key Takeaways
- Finance Minister Bezalel Smotrich referred to Gaza as a "real estate bonanza" at a Tel Aviv conference.
- He claimed a "business plan" for the territory has been submitted to U.S. President Donald Trump.
- The comments follow a UN estimate that 92% of Gaza's residential buildings are damaged or destroyed.
- Smotrich, who has been sanctioned by several countries, suggested the "demolition phase" of urban renewal is complete.
Minister's Remarks on Gaza's Future
Speaking at a conference in Tel Aviv, Bezalel Smotrich discussed the financial and territorial aspects of the conflict. "We have paid a lot of money for this war," he said, according to reports in Israeli media. "We have to see how we are dividing up the land in percentages."
Smotrich framed the widespread destruction in Gaza as a preliminary step toward redevelopment. "We've done the demolition phase, which is always the first phase of urban renewal," he stated. "Now we need to build. It's much cheaper."
This is not the first time the minister has expressed such views. He has previously stated there is a "tremendous opportunity" for Israel in the territory and has advocated for occupying Gaza to make it an "inseparable part of the State of Israel."
The Alleged Business Plan
A key part of Smotrich's announcement was the existence of a formal proposal for Gaza's future. "There is a business plan, put together by the most professional people here, that is on President Trump's desk," Smotrich said, as reported by the Times of Israel.
Details of this plan were not disclosed, but the statement links the Israeli government's intentions directly with figures in the U.S. administration. The White House has not yet commented on the minister's claims.
Background on U.S. Involvement
The idea of redeveloping Gaza is not new in U.S. political discussions. President Trump previously suggested the U.S. could "take over" Gaza, remove its residents, and transform it into the "Riviera of the Middle East." In February, Trump also shared an AI-generated video depicting a modernized, resort-style Gaza Strip.
Scale of Destruction in the Gaza Strip
The minister's comments about a "demolition phase" are set against a backdrop of vast destruction. A United Nations report from April estimated that approximately 92 percent of all residential buildings in Gaza have been damaged or completely destroyed since the conflict escalated in October 2023.
The UN also projected that removing the resulting rubble from the territory could take "decades," highlighting the immense scale of the damage.
Destruction by the Numbers
A CNN analysis published on September 12 revealed that over 1,800 buildings in and around Gaza City were destroyed or damaged in about a month. This period began shortly after Israel approved a new offensive in early August. The report noted that much of the damage appeared to be from bulldozers and excavating equipment rather than direct airstrikes.
The actions of the Israel Defense Forces (IDF) have been under scrutiny. The military confirmed in early September it was targeting high-rise buildings in Gaza City to prepare for expanded ground operations. International law prohibits the destruction of civilian property unless it is a military necessity.
International Reaction and Sanctions
Bezalel Smotrich is a controversial figure on the international stage. In June 2025, the United Kingdom's government imposed sanctions on him, along with Security Minister Itamar Ben-Gvir, for what it described as "repeated incitements of violence against Palestinian communities."
Several other nations, including Canada and Australia, have also implemented sanctions against Smotrich for his rhetoric and policies. His past statements include a declaration that new plans for thousands of homes in the occupied West Bank would "bury the idea of a Palestinian state."
The concept of profiting from the conflict has been condemned by legal experts.
"It's appalling that any state would seek to profit from the suffering and dispossession of a civilian population," Adil Haque, a law professor at Rutgers University, told NBC News in response to the situation.
The remarks from the finance minister continue to fuel debate about Israel's long-term intentions for the Gaza Strip and the ethical implications of post-war reconstruction and development.
