Around 25 people, most of them paramedics and journalists, were injured in the heavy airstrike on the residential tower, which consists of 100 apartments and 150 stores, the pro-Hamas al-Aqsa Television quoted Ashraf al-Qedra, the health ministry spokesperson as saying, according to Xinhua.
Witnesses said four small rockets were fired from Israeli drones and after a short while, four heavy bombs landed on the huge building and turned it into rubble. Ambulances rushed to the neighbourhood and evacuated the casualties.
This residential town, located in Nasser Street, is known as the Italian residential compound. It was built in 1995 by an Italian construction company.
Witnesses said four small rockets were fired from Israeli drones
The residents of the tower said they received warning phone calls from Israeli army speakers, telling the residents to evacuate their houses because there are apartments in the residential towers used by Hamas movement.
Earlier on Saturday, Israeli jets destroyed another residential tower in Gaza City's Remal neighbourhood in Gaza City, leaving dozens injured.
Israel and Hamas resumed fighting after the indirect negotiations in Cairo, aiming at achieving ceasefire in the hostility which began July 8, had collapsed on Tuesday.
More than 2,000 Palestinians have been killed and more than 10, 000 injured as a result of the Israeli offensive. Sixty-seven Israelis have died, 64 of them were soldiers.