CCP conducts open hearing on real estate sector

Business Recorder reported that consumers complained of deceptive marketing, undisclosed fees and projects wrongly presented as approved at an open hearing held by the Competition Commission of Pakistan (CCP) in Islamabad on Thursday. The session aimed to gather complaints and replies from buyers, regulators, government bodies and industry representatives. Real estate developers, housing societies and industry associations were among those speaking up.

Chairman Farid Ahmad Tarar and Member Bushra Naz Malik formed the bench, acting under Section 29(c) of the Competition Act, 2010. Officials from NAB, CDA, RDA, SECP, PPRA, PTA and several other bodies attended, alongside representatives of major housing societies and consumers. Tarar said the aim was to hear every side before the Commission reached a view on competition issues in the sector.

He stressed that property is a large financial obligation for ordinary people, so misleading advertisements and inaccurate statements about approvals can have serious effects on buyers. Industry representatives presented their positions and said they would comply with the Competition Act. The hearing was meant to pinpoint repeated complaints and examine whether wider regulatory, policy or advocacy steps are required.