JERUSALEM (CNN) -- The new party created amid political upheaval in Israel will support the creation of a peaceful Palestinian state, giving up some land to ensure Israel's Jewish majority and maintaining all of Jerusalem under Israeli control.The Kadima Party, headed by Prime Minister Ariel Sharon, met Monday and laid out its central principles publicly for the first time.The announcement brought few surprises. The points laid out have long been espoused by Sharon and his supporters.Last week, Sharon left the Likud Party -- which he helped found in the 1970s -- and announced the creation of a new party, officially separating himself from those in Likud who protested his pullout of Israeli settlers and troops from Gaza.Sharon's move, which was widely expected, revolutionizes the Israeli political scene. Kadima, which means "Forward," is expected to end the longtime dominance of two parties in Israeli politics, Likud and the left-leaning Labor."Israel is a Jewish, democratic country," Justice Minister Tzipi Livni said Monday, laying out Kadima's main principles at the party meeting."The people of Israel have a national and historic right to the land of Israel," Livni said. "Because there is a need for Israel to remain a Jewish majority, we will have to give up part of the land of Israel in order to maintain a democratic, Jewish state."She added that the party supports "the establishment of a Palestinian state alongside Israel.""The Palestinians will have to commit to dismantle the terror organizations, collect illegal arms and carry out security reforms," Livni said. "Israel will keep the major settlement blocks, and Jerusalem will remain unified."She said political settlements will be based on the so-called road map for Middle East peace backed by the United States, the European Union, Russia and the United Nations.The new party's principles overlap in several cases with those of Labor and Likud. But Kadima positions itself as a centrist alternative and has attracted prominent members of both camps.Livni vowed that Kadima "will work to alter the method of governance in Israel."Kadima officials cautioned that the party is in its infancy, and its platform may grow and change.Parliamentary elections have been set for March 28.Polls taken last week suggested that if the elections took place immediately, Kadima would win the most seats in the 120-member Knesset, Israel's parliament.