Valad Property Group will announce the winner of its international design competition later this week for the A$1bn redevelopment of Gold Fields House in Sydney, Australia.

Many firms prepared designs for the 33-storey residential tower with a smaller building and public space and an overall 37,500m² of floor space.

Architects vying for the project include Johnson Pilton Walker, BVN Architects, Make Architects and Kerry Hill, while EMBT Architects will work in association with Candalepas Associates.

The current building is sited on an area of 2,680m² and has 25 levels of office accommodation.

The shortlisted architects are expected to give their presentations over two days.

An urban design study was conducted in May 2009 by the City of Sydney, which revealed that the building’s height could be increased for improvements in public spaces.

In 2006, Valad Property Group procured the Gold Fields House for A$274m from Multiplex. The building was originally designed by Peddle Thorp and Walker in the 1966 and has, until now, served as an office building.

The building is jointly held by with Valad’s development business which has a 21% stake, Stichting Pensioenfonds ABP with 40% and its Australian V-Plus Fund with a 39% stake.

Construction on site is expected to begin in 2011.