By Hila Tsion

Copyright ynetnews

Finance Minister Bezalel Smotrich on Wednesday addressed the question of “the day after” in Gaza, saying the territory should be turned into a “real estate bonanza.” Speaking at the Urban Renewal Summit hosted by the Real Estate Center and Madlan 2025, Smotrich revealed that he had “already begun negotiations with the Americans” over such a plan. His remarks mark the first official confirmation from Israel that the proposal is under discussion. Smotrich referred to what he called a “business plan,” similar to a vision circulating within the Trump administration that envisions Gaza’s reconstruction as a lucrative real estate investment. “This plan was built by the most professional people there are,” he said, adding that it now sits on U.S. President Donald Trump’s desk. “We are checking how this becomes a real estate bonanza—I’m not joking—and pays for itself.” According to the minister: “I’ve begun negotiations with the Americans, and I’m saying this seriously, because we paid a lot of money for this war. We need to work out how we share percentages on the land. The demolition phase, the first stage of urban renewal, we’ve already done. Now we need to build.” At the end of August, The Washington Post reported on a Gaza reconstruction plan circulating within the Trump administration. Based on Trump’s pledge to “take control” of the territory, the plan envisions Gaza being placed under U.S. trusteeship for at least 10 years, during which it would be transformed into a glittering tourist resort and a hub for technology and high-tech manufacturing. The plan resembles a vision first revealed by Ynet in May last year, under the title “Gaza 2035.” It now appears to have been rebranded as the “GREAT Trust”—an acronym for Gaza Reconstitution, Economic Acceleration and Transformation Trust. Smotrich’s comments come against the backdrop of growing international momentum for recognition of a Palestinian state and Israel’s increasing diplomatic isolation, despite warnings Prime Minister Benjamin Netanyahu has received. The diplomatic backlash stems in part from the prolonged war in Gaza, which Foreign Minister Gideon Sa’ar has also warned carries a heavy price for Israel.