The magazine Responsible Statecraft has published a report examining the inner workings of the “Peace Council” established by US President Donald Trump to oversee security and reconstruction in the Gaza Strip, warning that the initiative risks becoming a lucrative opportunity for political and financial elites and those close to presidential circles, under the banner of “humanitarian work”.
According to the report, translated by Arabi 21, Trump hosted the council’s inaugural meeting, which was formed to supervise Gaza’s security and redevelopment. During the meeting, his son in law Jared Kushner, a member of the founding executive council, downplayed suggestions that those involved would financially benefit from the reconstruction process.
Kushner was quoted as saying: “I truly want to thank the entire team that worked hard on this project. Many of these individuals are volunteers, and they are doing this without any personal gain. No one is making personal profits from this.”
Investment Opportunities and Financial Concerns
The magazine argued that substantial sums could be generated, directly or indirectly, by those attending the meeting and others, including Kushner himself. It noted that Kushner and other council members have already promoted investment opportunities linked to Gaza’s reconstruction.
During the World Economic Forum in Davos, Switzerland, Kushner unveiled what he described as a $30 billion master plan aimed at replacing historic sites and landmarks with data centres, industrial zones, residential towers, and coastal resorts. He characterised Gaza’s reconstruction as offering “extraordinary investment opportunities” for the private sector.
Charles Dunne, a researcher at the Arab Center Washington DC, wrote that Kushner could serve as a “clear conduit” for the flow of public and private funds into Gaza, particularly as his private equity firm Affinity Partners manages billions of dollars in Saudi, Emirati, and Qatari investments.
The magazine also cited a US Senate investigation which concluded that Kushner charges high fees despite failing to generate profits for investors, raising concerns that the company could be used as a vehicle for purchasing influence by foreign governments.
Dunne was quoted as saying that the apparent idea is to open Gaza to flows of public and private capital, particularly from Gulf states.
Reconstruction Fund and Contract Competition
The White House has reportedly announced the collection of approximately $17 billion for a “Gaza Reconstruction and Development Fund”, to be managed by the World Bank. The Peace Council, chaired personally by Trump, would direct the allocation of these funds. Under the council’s charter, Trump holds the presidency in his personal capacity, meaning that any successor in office would remain subject to his authority in this framework.
Companies have already begun competing for contracts. The British newspaper The Guardian reported that the council awarded a contract to build a military base capable of housing 5,000 personnel for an international force tasked with protecting civilians and training “vetted Palestinian police forces”, without disclosing the contractor’s identity.
A leaked document in December indicated that US officials were seeking a “prime contractor” who would secure a “fair return” from trucking operations. It pointed to a US disaster response company, Gothams LLC, which submitted a proposal guaranteeing itself 300 percent profits for work in Gaza, along with a seven year monopoly over transport and logistics services.
The report further stated that administration officials and business figures linked to the council have promoted a new “Gaza supply system”, which, according to a presentation in January, would offer sovereign investors returns ranging between 46 percent and 175 percent in the first year.
A veteran contractor told The Guardian: “Everyone is trying to get a piece of this project. People are treating it as if it were a new Iraq or Afghanistan and trying to get rich from it.”
Real Estate Interests and Political Concerns
Israel’s representative on the council, billionaire Yakir Gabay, reportedly called for the development of Gaza’s coastline into a “new Mediterranean Riviera with 200 hotels and potential islands”, while stating that he would not personally build hotels there.
Another council member, Marc Rowan, chief executive of Apollo Global Management, outlined what he described as the latent economic value of Gaza’s assets. He estimated the coastline’s value at approximately $50 billion based on conservative assessments, residential housing stock at more than $30 billion, and infrastructure at over $30 billion, bringing the total real estate value close to $115 billion. He argued that these assets “only need to be opened to investment and provided with the necessary financing”.
In its conclusion, the magazine stated that the dominance of private equity firms and real estate magnates within the council, combined with the lack of transparency regarding reconstruction policies and timelines, raises serious concerns about potential misuse. It quoted Hugh Lovatt, senior policy fellow at the European Council on Foreign Relations, as saying that the involvement of businessmen such as Rowan and Kushner “is completely at odds with what Palestinians in Gaza need”.
