Colliers Jardine of Hong Kong and Richard Li Tzar-kai's Pacific Century Regional Development of Singapore have been roped in by the Videocon group to assist in the restoration of a historical landmark in Bombay's central business district. Fort House - also known popularly as Hand-loom House because it used to house the main sales centre for hand-loom fabrics, is to be restored to its condition before a blaze in 1983 gutted the building. The Videocon group, which started in consumer entertainment electronics, has diversified into finance, oil drilling, power and property development. Last year, it purchased Evans Fraser and Company (India), the firm that owned the Fort House property. This valuable piece of land has been unused for 14 years, due to protracted litigation. The original tenants have been bought out by the Dhoots of Videocon, who now own the rights to develop the property - part of the Bombay Municipal Corp's heritage development plan. Pacific Century Regional Developments, part of the group controlled by Richard Li, son of Hong Kong businessman Li Ka-shing, has signed a consultancy agreement with the Videocon group, for which permission has been obtained from the Reserve Bank of India (RBI). The Li Ka-shing group has assets worth US$5.9 billion and primarily focuses on four business areas - telecommunications, infrastructure, property development and insurance. Pacific Century's first attempt to enter the Indian real estate business was in 1995 when it bid along with Videocon for the proposed convention centre and five-star hotel at the prestigious suburban Bandra-Kurla Complex. The project has stalled after two rounds of bidding. A five-storey commercial and office complex is to be developed at Fort House at a cost of Rs 350 million rupees (about HK$76.6 million). Sales are expected to realise about 700 million rupees. The two overseas companies, apart from providing consultancy, will be involved in the marketing of the property. The total reconstructed area is expected to be about 82,000 square feet. It will be offered at the rate of 8,500 rupees per sq ft.