Palestinian billionaire Munib Al-Masri, who heads the Palestinian National Coalition of independent figures, said in a press conference that Palestinian President Mahmoud Abbas decided to send a high ranking delegation from the Palestine Liberation Organization (PLO) and Fatah's central committee to finalize a unity deal with Hamas.

Al-Masri added that he was assigned to head the delegation.

"I have already started contacts to form the senior delegation, which will include members of Fatah movement's central committee and PLO's Executive Committee and leaders of other factions," he said.

"We must achieve the Palestinian national reconciliation…and forget the wounds for the sake of the Palestinian people and their future.”

He added that he could finish forming the delegation by Tuesday before traveling to the Gaza Strip.

Al-Masri stressed that "reconciliation among the rivals must be achieved as soon as possible, the wounds must be forgotten and the Palestinian people must gain their unity."

Hamas had seized control of the Gaza Strip by force in June 2007 following two weeks of heavy fighting with Abbas' security forces.

Following Hamas’ takeover of Gaza, Abbas outlawed the movement and deposed its government, but Hamas rejected his decree and continues to rule the enclave.

Egypt had in October presented a draft reconciliation paper to the rival factions. Fatah accepted the document while Hamas refused to sign, saying it had reservations. 

Hamas wanted reconciliation efforts to be handled through a committee representing all the factions and says the Egyptian paper authorized Abbas to form these committees without national understanding. Egypt rejected Hamas’ demands.

Member of Fatah's central committee Abbas Zaki said Abbas’ decision to reconcile with Hamas was based on a need to resolve the crisis quickly.

"Why don't we resolve our feuds by ourselves? I believe that all the previous excuses are meaningless and there is nothing that obstructs reaching a real reconciliation," said Zaki.

Meanwhile, Hamas has dismissed the visit as a ploy to persuade them to approve the Egyptian reconciliation draft.

“We at Hamas have experienced such shuttle visits before, which always ends with the words ‘sign the Egyptian paper,’" said senior Hamas leader Salah Al-Bardawil.

"Security coordination, negotiations (with Israel), and arrests in the West Bank must be stopped before reconciliation initiatives and visits from Fatah leaders are announced."