CCP to Hear Real Estate Competition Complaints

ISLAMABAD: The Competition Commission of Pakistan (CCP) has announced an open hearing for August 27 to collect evidence, concerns and stakeholder perspectives on competition-related matters affecting the country’s real estate sector.

The hearing has been scheduled following complaints submitted to the competition watchdog regarding alleged deceptive marketing practices and other conduct that could potentially undermine fair competition in the property market.

The CCP has invited consumers and investors, along with property developers, builders, real estate professionals, industry associations and other relevant stakeholders, to attend the proceedings and present their concerns directly before the commission.

The matters being examined include claims and representations made about project approvals, advertised facilities and features, applicable charges and other important information that could influence the decisions of prospective property buyers and investors.

The commission noted that consumers who invest significant amounts based on inaccurate, incomplete or misleading information may suffer substantial financial losses. It stressed that clear, accurate and transparent disclosures are essential for enabling buyers to make informed investment decisions while also ensuring a level playing field for businesses.

The CCP said deceptive marketing is prohibited under Section 10 of the Competition Act, 2010. The provision prohibits businesses from disseminating false or misleading information that could cause harm to consumers or adversely affect the business interests of other undertakings.

The August 27 proceedings will be conducted under Section 29(c) of the Competition Act, which authorises the CCP to hold hearings on issues relevant to competition and market conditions.

According to the commission, all statements, evidence and submissions received during the hearing will be formally recorded and subsequently reviewed as part of its process of developing an assessment and recommendations concerning competition issues in the real estate sector.