Egyptian President Abdel-Fattah al-Sisi and United Arab Emirates (UAE) President Sheikh Mohamed bin Zayed Al Nahyan on Monday discussed the recent developments in Palestine amid the current rising tensions in the Gaza Strip, the Egyptian presidency said in a statement.

In a phone call, the two leaders also discussed efforts to stop the ongoing military escalation.

"They agreed on intensifying consultations and pushing forward diplomatic efforts to alleviate violence and escalation to protect civilians and prevent bloodshed, and to initiate a path for achieving comprehensive and just peace to guarantee regional stability and security," the statement added.

On Saturday, the Palestinian Islamic Resistance Movement (Hamas), which controls Gaza, showered Israel with thousands of rockets in a massive surprise attack that was responded to with heavy Israeli airstrikes on Gaza and punitive measures, including power outages.

At least 493 Palestinians have been killed and 2,751 others wounded in Israeli airstrikes on the Gaza Strip, the Hamas-run Health Ministry said on Monday.

Israel's cabinet has declared a "state of war" as the Israeli death toll from the Hamas attack has climbed to 800.