Israeli Finance Minister Bezalel Smotrich described the Gaza Strip as a “real estate bonanza” during a conference this week, framing post-war reconstruction in the enclave as a financial opportunity and revealing that discussions are underway with U.S. officials about dividing the territory after the war.

Smotrich made the remarks Wednesday at a real estate conference in Tel Aviv, where he claimed that the war has created an economic opening for Israeli redevelopment in Gaza. “We have paid a lot of money for this war. We have to see how we are dividing up the land in percentages,” he said. “The demolition, the first stage in the city’s renewal, we have already done. Now we need to build.”

The far-right minister, who leads the Religious Zionism party, also told the audience that “a business plan, put together by the most professional people here,” is already “on President Trump’s desk.” He did not clarify whether the plan had official backing from the Israeli government or the U.S. administration. The White House and U.S. State Department did not immediately respond to requests for comment.

The comments come at a highly sensitive moment in the ongoing war, as the United Nations this week formally determined that Israel’s military actions in Gaza constitute a genocide, citing systematic targeting of civilian infrastructure, mass displacement, and an apparent intent to destroy Palestinian life in the territory. The UN’s designation adds significant legal and diplomatic pressure on Israel, which continues to reject such accusations.

Smotrich’s remarks appear to directly contradict repeated statements by Israeli Prime Minister Benjamin Netanyahu, who has said publicly that he does not plan to reestablish Israeli settlements in Gaza. However, some members of Netanyahu’s coalition — including Smotrich — have continued to promote the idea of turning the Strip into a permanent extension of Israeli territory.

In July, Smotrich participated in a Knesset event titled “The Gaza Riviera – From Vision to Reality,” where he expressed support for reestablishing Jewish settlements in the Strip. “Gaza will become an inseparable part of the State of Israel,” he said at the time.

Smotrich has also pushed to revive former settlements in the northern West Bank that were evacuated in 2005 during Israel’s disengagement from Gaza. In an interview last month with his party’s newsletter, he confirmed efforts to rebuild the settlements of Ganim and Kadim.

Palestinians and the broader international community — including the United Nations, the European Union, and Arab states — have insisted that any post-war administration in Gaza must be Palestinian-led and free from Israeli or U.S. occupation. The idea of turning Gaza into Israeli territory has been widely condemned as a violation of international law and an obstacle to any future two-state solution.

Human rights organizations have warned that openly discussing redevelopment or settlement plans while the war is ongoing — and while civilian casualties continue to mount — signals intent consistent with the allegations laid out in the UN genocide finding.

The war in Gaza, which began after the October 2023 Hamas-led attacks that killed 1,200 Israelis, has resulted in widespread destruction across the enclave. According to health officials in Gaza, more than 35,000 Palestinians — the majority of them women and children — have been killed in Israeli airstrikes and ground operations, with thousands more missing or injured. Infrastructure across the Strip, including hospitals, schools, and refugee camps, has been decimated.