A US proposal to rebuild war-torn Gaza into a high-tech, luxurious coastal destination over the next two decades has been pitched to possible donor countries, according to a report on Friday.

The project, which would cost $112 billion over the first 10 years, was developed by a team led by US President Donald Trump's son-in-law Jared Kushner and Middle East envoy Steve Witkoff over the past 45 days, the Wall Street Journal reported, citing US officials.

Initially, the US would commit to "anchor" the program by providing $60 billion, while envisioning Gaza being able to self-fund parts of the proposal as it gets underway, according to the report.

In this pool photograph distributed by the Russian state agency Sputnik, US special envoy Steve Witkoff (right) and US President Donald Trump's son-in-law Jared Kushner (left), accompanied by Kremlin economic envoy Kirill Dmitriev, are seen prior to a meeting at the Kremlin in Moscow on December 2, 2025. (Alexander Kazakov/Pool/AFP)