At the inaugural Board of Peace meeting in Washington on Feb. 19, 2026, Yakir Gabay laid out a 10-year plan to turn Gaza into a “Mediterranean Riviera” with 200 hotels and possibly artificial islands.
The proposal also includes schools, hospitals, factories, agriculture, rail lines, water and energy plants, tech hubs, sports facilities, plus a seaport and airport. He cited the need to clear 70 million tons of rubble and miles of tunnels, projecting “hundreds of thousands of jobs” under a “free economy” model backed by a Gaza sovereign fund.
All development, he said, depends on the complete disarmament of Hamas.
The Jerusalem Post has reported that within days of the Oct. 7 attacks, Gabay began drafting the reconstruction plan that now underpins the U.S. Board of Peace framework. Trump appointed him to the body on Jan. 17.
Gabay, 59, is known for close ties to Jared Kushner, Israeli media reported, and is the son of former Justice Ministry Director-General Meir Gabay. He previously led Bank Leumi’s underwriting arm and worked at the Israel Securities Authority. Later, he founded Aroundtown SA, a Frankfurt-listed real estate giant with a roughly $30 billion portfolio where he is currently Deputy Chairman of the Advisory Board.
A low-profile Israeli-Cypriot real estate billionaire began sketching Gaza’s future within days of Oct. 7.
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