From rubble to real estate- Israel’s FM sparks outrage with Gaza ‘Bonanza’ pitch

As smoke continued to rise from fresh Israeli bombardments over Gaza City, Israel’s Finance Minister Bezalel Smotrich stunned audiences at a Tel Aviv real estate conference with a provocative claim: Gaza’s devastation could be transformed into a profitable real estate venture.

Smotrich said he had “started negotiations with the Americans,” describing a business plan already “on President Trump’s table” that could turn Gaza into what he called a “real estate bonanza.” He likened the destruction to an “urban renewal project,” claiming the “demolition phase” was complete and that rebuilding would now be “much cheaper.”

The remarks triggered a storm of criticism. Rutgers University law professor Adil Haque warned the proposal would violate international law, as it implies expelling Palestinians and taking permanent control of Gaza. “Killing, injuring, displacing ordinary people is one of the most serious actions any state can take… to profit from it is just completely unacceptable,” Haque said.

The White House has not formally responded, though a US official told NBC that Donald Trump supports reconstruction efforts in Gaza—but only if Hamas disarms and steps down from power.

Meanwhile, Gaza reels under relentless Israeli airstrikes. More than 100 people were reported killed on Wednesday alone, most of them in Gaza City. Over 65,000 Palestinians have died since the war began in October 2023, according to health officials, a toll verified by the UN, which has accused Israel of genocide. Thousands continue to flee south, fearing they may never return if Gaza’s destruction is repurposed into a real estate venture.