RIYADH, SAUDI ARABIA (October 22, 2025) – Startup Wise Guys, now operating in Saudi Arabia under the Brand NeoCity, signed an agreement with Parsons Corporation (NYSE:PSN) at the sideline of the Construction Technology Festival in Riyadh. The agreement will see NeoCity lead pilot opportunities and joint ecosystem development for Parsons in the Kingdom.
Parsons has successfully deployed several startup technologies on mega and giga projects. With the signing of this MOU, NeoCity will serve as one of Parsons’ official Proof-of-Concept partners for Parsons, which aims to support the growth of construction technology startups in Saudi Arabia. The Program is sponsored by government entities including the Real Estate General Authority, National Technology Development Program, and corporates such RETAL and Aqar, two of the biggest real estate developers in the Kingdom.
“NeoCity, is thrilled to collaborate with Parsons in driving innovation at the intersection of technology and the built environment,” said Aya Zaghnin, General Partner at Startup Wise Guys “Together, we aim to accelerate the adoption of solutions that enhance productivity, efficiency, and sustainability across Saudi Arabia’s real estate and infrastructure sectors. Parsons’ deep engineering expertise, combined with NeoCity’s network of global startups, will help transform how cities are designed, constructed, and managed – aligning perfectly with the Kingdom’s Vision 2030 ambition to build smarter, more connected urban communities for generations to come.”
“Parsons is proud to support ecosystem development in Saudi Arabia and this MOU with Startup Wise Guys aligns with our commitment to fostering enduring and forward-thinking solutions that drive innovation,” said Martin Boson, Senior Vice President and General Manager, for Parsons in Saudi Arabia. ‘‘What sets Parsons apart is our ability to actively identify, pilot, and scale emerging technologies, including the seamless integration of AI enabling unprecedented efficiencies into the way we manage our projects. By combining global best practices with local innovation, Parsons continues to deliver cutting-edge solutions that create lasting value.”.
Saudi Arabia is in the midst of an unprecedented real estate expansion. The PropTech market was valued at approximately US $865 million in 2024 and is projected to reach US $2.5 billion by 2030, growing at a rate of nearly 19% CAGR. More than 5,200 active projects across the Kingdom are valued at over US $819 billion, including a pipeline of 660,000 new housing units.
This surge, driven by Vision 2030, has created both opportunity and urgency for technology adoption — from digital construction management to AI-powered property analytics. Without PropTech innovation, experts warn, the scale and pace of Saudi Arabia’s urban transformation will be difficult to maintain.
NeoCity serves as a bridge between global innovation and local execution. By funding startups and integrating them directly into the Saudi ecosystem — alongside developers, regulators, and investors — the initiative accelerates adoption of cutting-edge solutions that make cities smarter, more efficient, and more sustainable.
Leveraging the combined strength of Parsons’ 80-year global legacy, including its long-standing presence in the Kingdom of Saudi Arabia, and Startup Wise Guys’ vast network of high-growth startups, NeoCity is poised to play a pivotal role in supporting the Kingdom’s Vision 2030 National Transformation Program.
