Egypt is in the process of drawing up an alternative to Donald Trump’s plans for a United States-owned Gaza.
In conjunction with the World Bank, a plan is being prepared that would formally remove Hamas from governance and control of the war-torn territory.
However, the future military status of Hamas within Gaza is yet to be resolved which is likely to be a barrier to Israel endorsing the plan.
The United Arab Emirates and Qatar are also expected to make financial offers to fund the reconstruction, but under the expectation that Palestinians have the right to remain in Gaza and are not replaced in neighbouring Egypt or Jordan as the U.S. president has suggested.
Reconstruction is expected to take 3-5 years, as 65% of Gaza's property has been destroyed.
This comes as Egypt announced last week it would host Arab leaders for an emergency Arab summit to discuss Gaza to be held on 27 February.
The Egyptian foreign ministry said in a statement last week that it hoped to cooperate with the Trump administration to reach "a just settlement of the Palestinian cause".
President Trump met with Jordan's King Abdullah on Tuesday, where he continued to push his plan for the US to take over Gaza.
However, Abdullah said every Arab state rejected the idea, while the UN warned that any forced displacement of Palestinians to other territories would be illegal under international law and "tantamount to ethnic cleansing".
Today US Secretary of State Marco Rubio has held talks with Israeli Prime Minister Benjamin Netanyahu during his first trip to the Middle East since taking the position.
He is expected to visit the United Arab Emirates and Saudi Arabia after his meetings with Israel.
As Rubio and Netanyahu held talks in Jerusalem, it was reported that Jordan's Crown Prince Hussein and Egypt's President Abdel Fattah al-Sisi met in Cairo.
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