Egyptian real estate tycoon proposes $27bln Gaza reconstruction plan

Zawya

10-02-2025

Egyptian real estate tycoon Hisham Talaat Moustafa, CEO and Managing Director of Talaat Moustafa Holding Group, has proposed a $27bn reconstruction plan for Gaza as an alternative to US President Donald Trump's proposals, which he criticised as illogical and unfeasible.
Speaking on the 'Al-Hekaya' programme on MBC Egypt, Moustafa outlined his vision for creating a 'civilised society' in Gaza within three years. He proposed utilising the resources of 40 to 50 construction companies and allocating $20bn to construct 200,000 housing units, enough to accommodate 1.3 million residents. A further $4bn would be invested in infrastructure, and $3bn in educational, healthcare, and commercial services.
Moustafa argued that securing the necessary $27bn for comprehensive infrastructure development would be achievable if contributions were distributed among 40 to 50 nations, with each contributing no more than half a billion dollars over three years. 'The international community is capable of resolving the crisis in the Gaza Strip through reconstruction and development,' he asserted.
Hisham Talaat Moustafa
He contrasted his plan with Trump's suggestions, which he described as unrealistic, particularly the idea of displacing Gazan residents. 'Who gave you this right?' Moustafa asked, challenging Trump's authority on the matter. He emphasised that the Israeli–Palestinian conflict, dating back to 1948, stemmed from the Palestinians defending their land, and that a resolution could only be achieved through the realisation of Palestinian rights. Investment in a conflict zone, he added, was inherently illogical.
Moustafa highlighted his company's experience in large-scale projects, noting that 'Al-Rehab' and 'Madinaty' comprise approximately 180,000 housing units, while the 'Noor' project, currently under construction, will add another 120,000. He also pointed to Egypt's capacity to undertake such a project, referencing the construction of a million housing units within Egypt. He estimated that creating the investment zone envisioned by Trump would require $2 trillion, asserting that the plan seemed driven by the U.S. perceiving it as a lucrative deal, without considering its lack of universal acceptance. 'Any investment project must have security factors available,' Moustafa added, noting that the Palestinian people have been struggling for their rights for over 80 years and will not remain silent.
Moustafa affirmed that Egypt possessed the technical and engineering expertise necessary to rebuild Gaza. Initial reconstruction estimates were already available to Egyptian authorities and the Palestinian Authority, he said, enabling swift implementation of housing and infrastructure projects. He cited Egypt's construction of a million housing units and 8,000 to 9,000 kilometres of roads in recent years as proof of its ability to construct 200,000 housing units in Gaza within three years, along with necessary services. He lauded the Egyptian administration's stance against the displacement of Palestinians, highlighting its resistance to pressure despite challenging circumstances. Significant pressure had been exerted on the Egyptian leadership to change its position, he said, but it remained firm due to its awareness of the potential consequences.
Moustafa emphasised the international community's responsibility towards the Palestinians in Gaza, warning that the continuing situation could lead to instability. 'The world is pushing 1.8 million people in Gaza to become a time bomb,' he warned. 'When a person reaches the point of despair, what do you expect them to do?' He stated that the people of Gaza would support any faction that could deliver stability. 'If the matter is presented clearly and fairly, with a promise of tangible improvements and fair elections, the faction that provides stability will be chosen. That is certain.' Elaborating, he drew a parallel to Egypt, saying that when there was instability, people shifted their support to alternative groups that improved their lives. He also noted that many families in Gaza had lost loved ones during the violence and would not want a repeat of that experience.
Acknowledging the challenges, particularly the lack of international political and security guarantees, Moustafa called for clear international backing and UN organisation to ensure a safe and stable environment for reconstruction efforts. Companies would be reluctant to operate amid persistent security threats, he argued, highlighting the need for international peacekeeping forces, similar to UNIFIL, to protect work crews and projects. 'Any company will think twice before entering an unstable environment,' he stated. 'Security risks may deter investors from participating in reconstruction operations.'
Moustafa stressed that the situation in Gaza destabilises the entire region and the international community, impacting global trade and supply chains via vital sea lanes like the Bab al-Mandab Strait and the Suez Canal. This, he argued, led to increased shipping costs and threatened economic stability. He called on the international community to choose between perpetuating the cycle of violence or investing in development. 'If there is a genuine intention to find a solution, then an integrated reconstruction project is the logical path,' he said. 'However, if the goal is something else, it should be stated clearly.' The real solution, Moustafa concluded, was creating a stable environment providing Palestinians with safe housing, sustainable livelihoods, advanced healthcare, and quality education – factors that would reduce tensions and give Palestinians a stake in maintaining security.