Australia-based AMP Capital has selected 3XN as the architect for the 49-storey 50 Bridge Street tower and for creating the master plan for the Quay Quarter Sydney (QQS) precinct.
The new tower will be the first major project designed by a Danish architect in Sydney after Jørn Utzon designed the Opera House in 1973.
The 200m tower features a series of five shifting glass volumes that are stacked upon each other at different angles to reflect the energy and movement of the surrounding neighbourhood.
As the building rises upwards the facade shifts to the east, providing views of Opera House and Harbour.
Rotating the tower also creates a collection of exterior terraces that are directly linked to the multi-level interior atria, which provides shared amenity spaces for people in each stack.
AMP Capital said in a statement: "3XN's innovative design, already well-received by the community, will revitalise AMP Capital's site, located close to the Opera House, into a vibrant destination for international and local businesses."
3XN founding partner and creative director Kim Herforth Nielsen said: "This project looks at the high rise in an entirely new way, from both the inside out and outside in.
"Its dynamic, shifted massing maximises views for all of the building's users while also creating expansive open spaces that encourage the possibility for interaction, knowledge sharing and vertical connectivity."
AMP Capital office and industrial managing director Louise Mason said: "AMP has been in the Circular Quay precinct for over 50 years and has a deep respect for the heritage of the area and importantly, an exciting vision for the future.
"This project will feature landmark architecture and leading-edge urban design that will revitalise Sydney's northern CBD."
Arup is providing engineering services for the $1bn project. Construction work on the project is scheduled to begin in 2018.
Image: An artist's impression of the 50 Bridge Street Quay Quarter Tower in Sydney. Photo: courtesy of 3XN.