World Bank officials say that with the fighting still raging, it's too early to assess damage. However, Shtayyeh's council and the Palestinian Central Bureau of Statistics have begun a first tally.
Based on reports from 56 engineers, the development council said the fighting caused about $1.7 billion in damage in the first 15 days.
This includes $300 million in damage in the southern district of Rafah, on Gaza's border with Egypt, hard hit by bombings because of the smuggling tunnels there, Shtayyeh said.
About $135 million was in damage to houses and $35 million to infrastructure, he said.
The statistics bureau reported $976 million in damage and $408 million in lost trade, wages and other income in the first 17 days of the Israeli assault. About 4,000 houses were destroyed and 16,000 damaged, said director Luay Shabaneh.
He said 30 Hamas security compounds, 15 government ministries and the main government complex were demolished.
Earlier this week, Hamas' Cabinet secretary general, Mohammed Awad, told the militant group's Al Aqsa TV that about 1,000 residential buildings had been destroyed, and 25,000 damaged.