CCP to examine competition concerns in Pakistan’s real estate sector

The Competition Commission of Pakistan (CCP) is set to examine deceptive marketing and other competition concerns in the real estate sector, including misleading claims about project approvals and hidden charges.

The competition watchdog will hold an open hearing on August 27 to hear stakeholders and examine competition concerns in the real estate sector, and has invited consumers, investors, developers, builders, real estate professionals, industry associations and other stakeholders to share their experiences and concerns directly with the commission.

According to a statement released on Tuesday, the hearing is being held against the backdrop of complaints received by the CCP regarding deceptive and anti-competitive practices in the sector.

“The Commission has observed that claims relating to project approvals, features, charges and other material information can significantly influence investment decisions.

“Where consumers invest substantial amounts based on false or misleading representations, the consequences can be serious. Truthful and transparent information is therefore essential for informed consumer choice and fair competition,” CCP said.

Under Section 10 of the Competition Act, 2010, deceptive marketing practices, including the dissemination of false or misleading information that may harm consumers or the business interests of other undertakings, are prohibited.

The hearing is being held under Section 29(c) of the Competition Act, 2010, which empowers the Commission to hold open hearings on matters affecting competition.

Submissions and concerns raised by participants will be recorded and considered by the Commission in formulating its opinion and recommendations.