Trump admin denies it will spend $60B to rebuild Gaza as high-tech, luxury destination

The Trump administration on Sunday denied a Wall Street Journal report that it will be paying $60 billion to turn Gaza Strip into a destination with luxury resorts, high-speed rail, and AI-optimised energy networks.

The report said on Friday that the United States has presented a proposal to potential donor countries that would reconstruct Gaza as a high-tech coastal area over the next two decades, at a projected cost of $112 billion, with the US contributing $60 billion.

“This is fake news. Nowhere in the plan does it say the US will pay $60 billion," The State Department’s Near Eastern Affairs Bureau said in a post on X, while avoiding commenting on the other revelations in the report.

This is fake news.

Nowhere in the plan does it say the U.S. will pay $60 billion. https://t.co/yoglZ36vAI

— U.S. State Dept - Near Eastern Affairs (@StateDept_NEA) December 21, 2025