ISLAMABAD: The Competition Commission of Pakistan (CCP) held an open hearing on competition issues in the real estate sector, bringing consumers, regulators, government bodies and industry representatives together to place their concerns, complaints and responses before the Commission.
The hearing gave consumers and investors an opportunity to share their experiences directly, while developers, builders, real estate professionals, industry associations and representatives of federal and provincial regulatory bodies presented their perspectives.
Deceptive marketing, misleading claims, hidden charges and misrepresentation of project approvals emerged among the key concerns.
The Commission’s bench comprising Chairman CCP Farid Ahmad Tarar and Member Ms. Bushra Naz Malik conducted the open hearing. It was held under Section 29(c) of the Competition Act, 2010.
Senior officials from NAB, CDA, RDA, FGEHA, Ministry of Housing and Works, SECP, PPRA, PTA, IPO Pakistan, Punjab Land Records Authority, ICT Administration and the Office of the District Magistrate participated, along with representatives of major housing societies, real estate businesses and consumers were in attendance.
Opening the proceedings, Chairman Farid Ahmad Tarar said the purpose was to hear all sides before the Commission forms its view on competition concerns affecting the sector.
“Real estate represents a major financial commitment for ordinary citizens. When investment decisions are influenced by false claims, misleading advertisements, undisclosed charges or inaccurate representations about approvals and project features, the consequences for consumers can be significant,” he said.
He said the open hearing was intended to identify recurring concerns, hear competing perspectives and assess issues that may require broader regulatory, policy or advocacy responses.
Consumers shared experiences relating to alleged deceptive practices by developers, housing societies and real estate businesses, while industry representatives presented their position and expressed commitment to compliance with applicable laws, including the Competition Act.
Representatives of regulatory and government bodies also highlighted their respective roles and the need for closer coordination in addressing issues affecting consumers and competition.
The submissions and recommendations received during the hearing will form part of the Commission’s consideration in developing its opinion on competition issues in the real estate sector.
More read, CCP seeks public input on competition issues in real estate market
The CCP reiterated that a competitive real estate market depends on accurate and verifiable information, informed consumer choice, and competition on the actual merits of projects.
