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Hyderabad, July 19 IVR Prime Urban Developers Ltd, which is going for a public issue on July 23, will spend Rs 334 crore on the IT park, mall and hotel it is planning to build at Gachibowli.

Addressing a press conference here on Thursday, Mr E. Sunil Reddy, Managing Director, said this would complement the Hill Ridge project it was taking up there.

The company was also planning to develop residential and commercial projects near Hi-Tec City at Madhapur. The proposed mall would come up on a 0.87 million square ft space that would also house a multiplex cinema, and comprise apparel stores, restaurant outlets and entertainment centres.

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