• Israeli Finance Minister Bezalel Smotrich claims Gaza could turn into a "real estate bonanza."
• Smotrich reports a business plan for Gaza redevelopment has been submitted to President Trump.
• The proposals include significant displacement of Palestinian residents, drawing international criticism.
• The United Nations estimates over 90% of Gaza's housing has been damaged or destroyed.
• A recent history of significant Israeli military actions has contributed to the current state of devastation.

Israeli Finance Minister Bezalel Smotrich has articulated that the Gaza Strip could be transformed into a "real estate bonanza." He announced that Israel is working with the United States on a "business plan" aimed at redeveloping the war-torn area, first sharing this sentiment at a conference in Tel Aviv. Smotrich claimed that the plan is "on President Trump's desk" and stressed the importance of determining how to "divide up the land in percentages" among stakeholders, according to Middle East Eye and Newsweek.

Previously, Trump proposed that the U.S. could take ownership of Gaza, aiming to convert it into the "Riviera of the Middle East." His suggestion was met with widespread condemnation from Arab and European nations. As Shmotrich noted, "We've done the demolition phase... Now we need to build," hinting at a post-war rebuilding phase that would sequentially take place following rampant destruction in the region, as reported by BBC and Middle East Eye.

Significant destruction in Gaza can be quantified by various UN reports, which assert that **92% of residential buildings** have been either damaged or destroyed since October 2023. The extensive destruction has led to concerns about reconstruction costs being estimated at **$53.2 billion over the next decade**, propagating arguments against the feasibility of any significant redevelopment project without addressing the humanitarian crisis, according to BBC and Newsweek.

The international reception towards Smotrich's statements has been predominantly negative, particularly given the historical context of displacement suggested in the plans. The transformations envisioned would involve "voluntary" emigration of Palestinians, although this notion is heavily criticized as contrary to international law. Smotrich's remarks are set against the backdrop of a broader Israeli military strategy in Gaza aimed at urban demolition and reconstruction, as stated by Middle East Eye and BBC.