ISLAMABAD – For property buyers, a project’s location can make or break an investment, especially in major cities like Lahore, Karachi and Islamabad. Competition Commission of Pakistan has now stepped in to look into housing schemes accused of posing themselves as Islamabad-based despite being located outside the city’s official limits.
The Commission launched a probe into promotional campaigns of multiple housing projects over allegations that their advertisements may give consumers an inaccurate impression of where the schemes are actually located.
M/s. Eighteen Housing Project is among developments facing scrutiny. Islamabad based Journalist Zahid Gishkori reported that the housing schemes under review have allegedly marketed themselves as Islamabad projects even though their sites fall outside the city’s official administrative boundaries.
The regulator is now examining whether such representations could amount to deceptive or misleading marketing under the Competition Act. Authorities will review advertisements and other promotional material to determine whether prospective property buyers may have been misled about the projects’ actual locations or status.
The inquiry will also assess the marketing methods adopted by the housing schemes and whether the claims used in their campaigns comply with competition law.
The law allows CCP to levy financial penalty of up to Rs7.5 Crore or, where applicable, an amount equivalent to no more than 10 percent of the concerned undertaking’s annual turnover.
The development shows growing regulatory attention toward real estate advertising, particularly when location-related claims may affect consumers’ decisions to purchase or invest in property.
