ASB's new national headquarters will shift from Albert St to Auckland's waterfront once its controversial new building is finished in two years' time.
Fletcher Construction won the contract to build the new offices, working for developer and owner, NZX-listed Kiwi Income Property Trust.
The circular building will be a 23,000sq m structure with a natural ventilation system, a radical step forward in New Zealand office blocks, aimed at eliminating traditional air conditioning systems which are not eco-friendly because they have high power usage.
A cone-like top on the building will pull down cool air in summer but retain warm air in the winter.
The building is rising on the corner of Jellicoe and Halsey Streets in the tank farm area, a big target for growth and expansion of the city's heart in the next few years.