ISLAMABAD: In a decisive crackdown on deceptive real estate advertising, the Competition Commission of Pakistan (CCP) has imposed a fine of Rs150 million on Kingdom Valley (Pvt.) Limited for disseminating misleading information about its housing project.
The penalty follows a suo motu investigation launched by the CCP’s Office of Fair Trade, which found that the company:
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Falsely marketed its project as “Kingdom Valley Islamabad” despite the site being located in Mouza Choora, Tehsil and District Rawalpindi;
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Misrepresented affiliations with the Naya Pakistan Housing Program (NPHP) and the Naya Pakistan Housing and Development Authority (NAPHDA); and
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Publicised the project as “NOC Approved” without providing accurate or complete information regarding the status of its regulatory approvals.
The CCP’s adjudicating bench, comprising Saeed Ahmed Nawaz and Abdul Rashid Sheikh, ruled that the company violated Sections 10(2)(a) and 10(2)(b) of the Competition Act, 2010, which prohibit the dissemination of false or misleading information likely to mislead consumers.
As a result, the Commission imposed a penalty of Rs75 million for each violation, totalling Rs150 million.
Beyond the misleading advertisements, the CCP also cited serious governance and compliance failures. Kingdom Valley reportedly failed to submit audited financial statements and did not comply with CCP directives. Additionally, the company has not filed financial records with the Securities and Exchange Commission of Pakistan (SECP) for several years.
