Saudi-based Annan Real Estate is set to build a new 35-storey office tower in the heart of capital Riyadh, which will boast an innovative design, sufficient parking, high-speed elevators and concierge services, said a report.

An agreement was signed with Saudi-based contractor Opal to build the tower project which will come up north of Mousa Bin Nusair Street and east of Al Habib Hospital in the commercial strip in Riyadh, according to Saudi Gazette.

The Boss Office Tower, which will house private hold offices for businessmen, companies and organisations, is aimed at providing better services to qualified real estate investors in a practical way, in proportion to their diverse investment needs and in collaboration with trusted companies, stated the report citing a senior official.

The office tower units will up for grabs over the next few months with flexible payment plans, it stated.

Annan has several key projects in the pipeline including the Almohra Plan located to the north of Riyadh besides a major housing project featuring 950 residential units in the east of Riyadh City.