Hisham Talaat Moustafa, CEO of Egyptian real estate conglomerate Talaat Moustafa Holding Group, has outlined plans to create a 'civilized society' in Gaza within three years, at a cost of around $27 billion.
Speaking on MBC Egypt's "Al-Hekaya" program, real estate tycoon Moustafa proposed using the resources of 40-50 construction companies and allocating $20 billion to build 200,000 housing units to provide shelter for 1.1-1.3 million Palestinians. Of the remaining funds, $4 billion would be invested in infrastructure and $3 billion in education, health care and commercial services.
Egyptian real estate tycoon Hisham Talaat Moustafa
Egyptian billionaire Moustafa sees this as an alternative to US President Donald Trump's proposal to relocate Palestinians from the strip to other countries. Mr. Moustafa criticized Mr. Trump's idea as illogical and unfeasible.
Mr. Moustafa affirmed that 27 billion USD can be mobilized if 40-50 countries in the world contribute, each country no more than 500 million USD within 3 years. He affirmed that "the international community has enough capacity to solve the crisis in the Gaza Strip through reconstruction and development".
Mr. Moustafa asserted that Egypt possesses the necessary expertise and technology to rebuild Gaza. The billionaire pointed out that in recent years, Egypt has successfully developed and transformed many unsafe slums into urban areas, emphasizing that this is a model for Gaza’s reconstruction.
Trump's 'shocking' proposal on Gaza: Condemned everywhere, subordinates worried about explaining
However, Mr. Moustafa also admitted that the biggest challenge is to ensure international security and politics as well as receive clear support from the United Nations, to create a stable and safe environment for reconstruction, according to Daily News Egypt . The situation in Gaza is currently destabilizing the entire region and the international community, affecting global trade and supply chains.
Mr. Moustafa stressed that providing safe housing, sustainable livelihoods, modern health care services and quality education would help reduce tensions and bring practical benefits in maintaining security for Palestinians.
Palestinians move in an area in the northern Gaza Strip on February 9, 2025.
In another development, the Egyptian Foreign Ministry said on February 9 that it disagreed with Israeli Prime Minister Benjamin Netanyahu's statements in the US media, calling them "false accusations." Earlier, the Israeli leader accused Egypt of preventing Gaza residents from leaving the territory in an interview with Fox News.
In addition, Egypt will hold an emergency summit with Arab countries on February 27 to discuss "serious" developments related to the Palestinian issue, the Egyptian Foreign Ministry said in a statement released on February 10.
Source: https://thanhnien.vn/ong-trum-bat-dong-san-ai-cap-muon-tai-thiet-dai-gaza-voi-27-ti-usd-185250210114136549.htm
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