Palestinians carry aid in Beit Lahia in the northern Gaza Strip July 20, 2025. Reuters
Palestinians carry aid in Beit Lahia in the northern Gaza Strip July 20, 2025. Reuters
Palestinians carry aid in Beit Lahia in the northern Gaza Strip July 20, 2025. Reuters
Palestinians carry aid in Beit Lahia in the northern Gaza Strip July 20, 2025. Reuters

Israel launches Deir Al Balah ground operation and attacks areas of Gaza for first time


Thomas Helm
  • English
  • Arabic

The Israeli army announced on Sunday that it will launch ground operations in parts of central Gaza which it has not invaded since the war began, at a time when the strip’s population faces severe bombardment and critical shortages of humanitarian aid.

The offensive in Deir Al Balah was announced by Israel’s Arabic-language military spokesman Lt Col Avichay Adraee, who wrote in a post on X: “[The Israeli military] continues to operate with great force to destroy the enemy's capabilities and terrorist infrastructure in the area, as it expands its activities in this region to operate in an area it has not operated in before”. Lt Col Adraee ordered residents of the attacked areas to move south to the Al Mawasi area.

​​​​​​​​​​​​​The death toll in Gaza stands at 58,895 people, according to the strip’s Health Minsitry. Medical sources said 85 Palestinians aid seekers were killed on Sunday, 67 of whom were in the north, the latest example of Israeli troops attacking Palestinians waiting for supplies as the humanitarian situation in the region spirals.

The expanded military operation comes after hopes earlier in the month that Hamas and Israel were edging towards a hostage-ceasefire deal. Progress stalled over the extent to which Israeli troops would withdraw during the phases of an agreement.

There are also fears the offensive might be part of a wider plan to force Gazans into a concentration zone in the very south of the strip, a plan that has been floated by senior Israeli officials in recent days. The military's displacement order cuts access between Deir Al Balah and the southern cities of Khan Younis and Rafah, the latter of which Israel’s defence minister wants to turn into the a “humanitarian city”.

Israeli media reported that that the military has delayed entering Deir Al Balah due to fears that Israeli hostages captured on October 7 are being held in the area and that operations would endanger them. The lower rate of military operations also means that many displaced Gazans have sought refuge in the area and is where many international organisations are attempting to distribute aid.

The UN has been in contact with Israeli authorities to clarify whether their facilities in Deir Al Balah are included in Sunday’s displacement order, a UN official told AP. The official said in previous instances UN facilities were spared from evacuation orders.

UNRWA, the UN’s agency for Palestinian refugees, wrote in a post on X on Sunday that “the Israeli Authorities are starving civilians in #Gaza. Among them are 1 million children. Lift the siege: allow UNRWA to bring in food and medicines”.

The plight of hostages continues to be one of the most divisive issues in Israel today. Saturday day evening saw more than 50,000 Israelis take to the streets of Tel Aviv in solidarity with captives. Demonstrators gathered outside the US embassy, with the father of one captive calling on US President Donald Trump to force a deal.

“The US holds the key to tipping the balance – to influencing both Israel and Hamas to close the deal and bring the hostages home,” said Ruby Chen, father of Itay Chen.

“We ask President Trump: use your power – now is the time.”

After the military’s announcement about the new operation, the forum said in a statement that “can anyone guarantee us that this decision won't come at the cost of our loved ones' lives?”.

The latest negotiations towards an agreement began in Doha on July 6 amid high expectations fuelled by upbeat comments made by Mr Trump that suggested a deal was in reach.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Founders: Michele Ferrario, Nino Ulsamer and Freddy Lim
Started: established in 2016 and launched in July 2017
Based: Singapore, with offices in the UAE, Malaysia, Hong Kong, Thailand
Sector: FinTech, wealth management
Initial investment: $500,000 in seed round 1 in 2016; $2.2m in seed round 2 in 2017; $5m in series A round in 2018; $12m in series B round in 2019; $16m in series C round in 2020 and $25m in series D round in 2021
Current staff: more than 160 employees
Stage: series D 
Investors: EightRoads Ventures, Square Peg Capital, Sequoia Capital India

Updated: July 21, 2025, 11:29 AM