NeoCity and Saudi proptech leader AQAR have signed an investment and strategic partnership agreement announced during Cityscape Global in Saudi Arabia. The collaboration aims to accelerate the growth of real estate technology startups and deepen innovation across the Kingdom’s rapidly evolving property sector. It also reinforces NeoCity Fund I’s commitment to backing proptech solutions that align with national priorities in smart cities and urban development.
Strategic Partnership to Scale PropTech Innovation
Under the agreement, NeoCity will work with AQAR to identify, pilot, and scale technology-driven solutions that address key challenges in real estate, from transaction efficiency to data transparency and digital customer experiences. The partnership is designed to support early and growth-stage proptech startups by giving them access to real-world use cases, investors, and potential commercial partners in Saudi Arabia. By combining NeoCity’s acceleration capabilities with AQAR’s market reach, the two organizations aim to create a stronger pipeline of viable, scalable proptech ventures.
NeoCity’s Platform for Piloting Smart City Technologies
NeoCity operates as an accelerator focused on PropTech and ConTech startups, helping them validate and localize their solutions within Saudi Arabia’s expanding smart city ecosystem. Through partnerships with government entities, developers, and investors, the platform enables startups to integrate their technologies into live projects and real estate developments. This new agreement adds a powerful commercial channel in the form of AQAR’s marketplace, offering startups both proof-of-concept opportunities and access to end users.
AQAR’s Role as a Leading Saudi PropTech Platform
Founded in 2014, AQAR has grown into one of Saudi Arabia’s leading proptech platforms, providing a one-stop marketplace for buying, selling, and renting properties in cities such as Riyadh and Jeddah. Beyond property listings, the platform offers value-added services including real estate data insights, financing facilitation, and leasing tools that serve both consumers and industry professionals. Led by Ibrahim AshShohail, AQAR has become a trusted digital gateway to the Saudi real estate market.
Empowering a New Generation of Real Estate Entrepreneurs
Both partners highlight that the investment seeks to empower a new generation of entrepreneurs building technology solutions for the real estate sector. Startups supported through NeoCity and AQAR will benefit from structured acceleration, market access, and potential investment, helping them to move faster from concept to commercialization. In turn, this is expected to attract more founders and technical talent into Saudi Arabia’s proptech and smart city ecosystem.
Alignment with Saudi Arabia’s Real Estate and Urban Vision
The strategic partnership aligns with Saudi Arabia’s broader ambitions to modernize its real estate sector and develop advanced urban environments through digital infrastructure and innovation. By linking global proptech innovation with domestic priorities, NeoCity and AQAR aim to contribute to more efficient, transparent, and sustainable real estate markets. Their collaboration at Cityscape Global underscores the growing role of private platforms and funds in supporting the Kingdom’s transformation agenda.
The investment and strategic partnership between NeoCity and AQAR marks a significant step in scaling proptech innovation within Saudi Arabia’s real estate ecosystem. By combining an acceleration platform with a leading property marketplace, the agreement creates a stronger bridge between startups, capital, and market demand. As the collaboration unfolds, it is expected to unlock new opportunities for technology-driven real estate solutions and support the development of smarter cities across the Kingdom.