A consortium led by Eden Leisure Group and Iniala Group has warned that Malta could lose more than €100 million in value following a decision by the Public Contracts Review Board regarding the tender for the historic Evans Building in Valletta.In a statement issued after the appeal decision, the consortium said its proposal had been rejected due to what it described as a mathematical error on the front page of the submission, despite the full documentation showing a financial commitment of €1.2 million annually.According to the consortium, its bid achieved full marks across all qualitative evaluation criteria and was financially superior to competing offers.The group claims its proposal was approximately €37 million higher than the second-placed bid, which it says would translate into over €100 million in additional value for Malta over the 65-year concession period, based on projected inflation adjustments.The project had been designed by Maltese architect Ray Demicoli and would have combined the hospitality expertise of both groups.Iniala Group operates the Iniala Harbour House, which includes Malta’s only two-Michelin-star restaurant and is the country’s only Forbes Five-Star hotel. Eden Leisure Group operates several major hospitality assets in Malta, including the InterContinental Malta, voco Malta and Holiday Inn Express Malta.The consortium argued that procurement procedures normally allow clarification in cases where mathematical discrepancies occur and said clarification had been provided during the process.In its statement, the group said rejecting the highest-scoring technical proposal and the most financially advantageous bid could deprive Malta of both a significant economic return and a major hospitality project for Valletta.The consortium confirmed it intends to challenge the decision through the courts, saying it will pursue legal action to seek a review of the outcome.The Evans Building, located in Valletta, is considered one of the capital’s most prominent historic structures and has long been earmarked for redevelopment under a concession agreement.•