Sunday 23 Feb
Real estate tycoon Hisham Talaat Moustafa, CEO and Managing Director of Talaat Moustafa Group, has proposed a plan to rebuild Gaza, offering an alternative to a previous US presidential administration's proposal.
He presented his plan during a meeting with Amr Adeeb on the Al-Hekaya program Saturday evening. His proposal involves the construction of approximately 200,000 housing units, intended to accommodate roughly 1.3 million citizens of Gaza.
He explained that a comprehensive inventory of the destruction
in Gaza would be conducted. The affected areas would then be divided into six
regions, which would be completely replanned. Demolished buildings would be
removed, and infrastructure would be implemented in phases according to a set
timetable. He anticipates the reconstruction process will take approximately
three years.
Hisham Talaat further explained that each housing unit would
be approximately 100 square meters, resulting in an estimated 20 million square
meters of building space. He estimated the construction cost of these units at
around $20 billion. In addition, he factored in the rehabilitation and
implementation of utility networks, roads, and service projects, bringing the
total anticipated cost of the reconstruction to approximately $27 billion.
Moustafa emphasized that the plan would require the
involvement of 40 to 50 major contracting companies, including those from
neighboring countries. He suggested that the financing for this ambitious
project would not be overly burdensome if shared among the world's nations.
Moustafa stated that his plan requires the participation of
40 to 50 major contracting companies, including those from neighboring
countries. He believes the funding needed for the reconstruction is manageable
if shared among the international community, suggesting each country could
contribute approximately half a billion dollars over the three-year
reconstruction period. He emphasized the international community's moral and
ethical responsibility towards the Palestinian people in Gaza, questioning
whether providing such an amount is truly difficult.
He asserted that Arab nations are both willing and able to
contribute the largest share of the funding. However, he identified the primary
obstacle as the lack of a clear future vision and the need to determine who
will govern Gaza through legitimate elections.
Hisham Talaat emphasized that establishing a fair governance
environment would pave the way for a leadership focused on stability, as the
Palestinian people in Gaza would not want to repeat past tragedies that
resulted in the loss of many lives.
He stressed that stability is fundamental for any
investment, and no genuine economic project can succeed without resolving the
existing political dilemma and ensuring the people of Gaza retain their right
to their land. He warned that maintaining the status quo risks a dangerous
escalation, particularly when people reach a point of despair.
The businessman praised the Egyptian administration's stance
on the displacement crisis of the Palestinian people, describing it as
"strong" and "honorable." He noted that Egypt refused to
yield to any pressure, despite the challenging circumstances, and emphasized
that significant pressure was exerted on the Egyptian leadership to change its
position, but it remained steadfast. He attributed this to a conscious leadership
with a deeper understanding of the future.
Commenting on the proposal of US President Donald Trump
regarding the idea of displacing the people of Gaza to establish an investment
complex and the economic and investment feasibility of such a proposal, Hisham Talaat,
head of the largest real estate development company in Egypt, offered his
perspective saying that what Trump proposed is illogical and completely unrealistic.
He explained that the conflict in the region dates back to
1948, involving a group of people defending their right to their land. He
asserted that this conflict will not be resolved until the Palestinian people
receive their full rights, noting that investing in a conflict zone is
illogical. He emphasized that displacing landowners for an investment project
is unprecedented globally.
Moustafa further explained that, while the Trump plan might
theoretically generate sales exceeding $4 trillion with an initial investment
of at least $2 trillion, making it appear profitable on paper, the reality is
far different. He questioned who would invest in an area lacking security and
safety. Moreover, he argued that the plan would be internationally unacceptable
due to the presence of citizens on those lands, with rights protected by
international law.
He continued, stating, "The Palestinian people, after
more than 80 years of struggle for their rights, will not remain silent in the
face of this plan." He stressed its impracticality, arguing that companies
cannot invest in a conflict zone. He questioned who would implement such a
proposal and who the target customers would be, asking who would come to this
volatile region for investment when they have the entire world to choose from
for buying property and residing.
He addressed a message to Trump because of the suffering of
the people of Gaza, saying, "Fear God... God will not accept
injustice."
Hisham Talaat Moustafa acknowledged the extraordinary efforts of the Egyptian administration and various agencies to support the Palestinian people by providing essential aid, amidst the great tragedy they are experiencing and the extremely unfair practices they are enduring.
