Rawabi: A planned city for Palestinians in the West Bank

BY News Desk  September 28, 2013 at 12:50 PM EST

Is economic prosperity the future of peace between the Palestinians and Israel? Palestinian-American businessman Bashar Masri thinks it could be.

Masri has raised $1 billion to build Rawabi, a brand-new Palestinian city on the West Bank with the hope that it will create prosperity and that peace may follow.

Rawabi — meaning “the hills” — has space for some 40,000. Homes here cost between $60,000 and $180,000. You can even get a mortgage, once unheard of in the West Bank. The first two sections — some 650 apartments — are almost sold out.

Special correspondent Martin Fletcher reports from the West Bank.