CCP to Hold Public Hearing On Misleading Marketing Issues In Real Estate Sector

The Competition Commission of Pakistan (CCP) is set to hold a public hearing on August 27 to investigate competition issues within the real estate sector, focusing on deceptive marketing, concealed fees, and inaccurate project information. The commission has extended an invitation to stakeholders, including consumers, investors, developers, and industry representatives, to provide firsthand accounts of their experiences.

This hearing follows complaints submitted to the CCP regarding misleading and potentially anti-competitive practices in the real estate market. The CCP emphasizes that information about project approvals, features, charges, and other critical details significantly influences investment decisions and warns of severe consequences for consumers who invest substantial sums based on false or misleading information.

In accordance with Section 10 of the Competition Act, 2010, deceptive marketing practices are prohibited, encompassing the dissemination of false or misleading information that could harm consumers or business interests of other companies. The CCP has previously taken enforcement actions, conducted investigations, and issued orders addressing deceptive marketing practices in the real estate sector.

The commission stresses the necessity of broader stakeholder engagement to identify wider competition concerns and to gain insights into market practices from both consumer and business viewpoints. The hearing, governed by Section 29(c) of the Competition Act, 2010, will be held from 4 p.m. to 6 p.m. at the CCP's office located at ISE Towers, Jinnah Avenue, Islamabad. Registration is mandatory and will remain open until August 25.