Real estate giants set to join forces for Gaza’s reconstruction

Steve Witkoff, a key figure in Donald Trump’s Middle East strategy, and Jared Kushner, the former president's son-in-law, have announced plans to bring real estate executives together to develop a strategy for rebuilding Gaza.

At the FII Priority conference in Miami, a business gathering sponsored by Saudi Arabia’s sovereign wealth fund, Witkoff explained the initiative. “We talk about convening people together from all parts of the world, master planners and developers and architects, talking about ideas and so forth,” he said in conversation with Kushner, Caliber.Az reports via foreign media.

This discussion comes amid renewed controversy over remarks made by Trump earlier this month, where he suggested that the US might take control of the Gaza Strip, transforming it into a "Riviera of the Middle East." Trump’s proposal included relocating Gazans to neighboring Arab nations, a plan that has been rejected by Arab leaders and sparked widespread condemnation in the Middle East and Europe. Critics argued that such a move would amount to ethnic cleansing and violate international law.

According to sources familiar with the matter, Witkoff is working on a plan to convene a summit at the White House, bringing together developers and business leaders to begin the rebuilding effort. This summit is still in the early planning stages, with key questions remaining, such as how to start construction and manage debris removal while people continue to live in Gaza.

The summit may also feature a public display, showcasing equipment like large cranes, with companies potentially asked to address logistical, technical, and security concerns, such as bomb detection, managing underground tunnels, and dealing with residents reluctant to leave.

Onstage at the conference, Witkoff emphasized the dire conditions in Gaza, stating, “You have to see the devastation that exists there today in Gaza. There are 30,000 unexploded shells all over there. The conditions are horrendous. I don’t know why anyone would want to live there today. It’s illogical to me.”

Kushner, who has previously commented on the valuable waterfront property in Gaza, reiterated the idea that relocating people would be key to rebuilding. "Move the people out and then clean it up,” he said.

Although Witkoff has been involved in ceasefire negotiations between Hamas and Israel, he doubts that Gaza could be rebuilt in the proposed timeframe of three to five years, stating, “This is not something that can be completed in five years. You can’t develop an apartment building in Manhattan in five years.”

Meanwhile, Egyptian officials have been working on a separate plan for Gaza’s reconstruction. Prime Minister Mostafa Madbouly stated that Egypt, in collaboration with local universities and consulting firms, has the capability to rebuild Gaza in three years, while allowing Gazans to remain.

A report from the United Nations, European Union, and World Bank estimated that Gaza’s reconstruction could cost over $50 billion over the next decade.

By Vafa Guliyeva