CCP Greenlights Major Real Estate Merger in Islamabad

Islamabad: The Competition Commission of Pakistan (CCP) has recently approved a significant merger in the commercial real estate sector involving M/s Enaara Properties Rawalpindi Ltd acquiring M/s Sprint Services Rawalpindi Ltd.

According to Competition Commission of Pakistan announcement issued on 02 August 2024, this approval marks a notable development in the real estate market as Enaara Properties, a holding company formed specifically for this venture, will take over all shares of Sprint Services, a key player in commercial real estate development known for owning a prime shopping mall location in Rawalpindi. The major shareholders of Sprint Services include M/s FYC (Pvt) Ltd and two private individuals.

The CCP conducted a Phase I competition assessment and determined that the real estate sector would not experience a shift in market dynamics or an increase in dominant positioning as a result of the merger. This finding assures that the merger will not hinder competition within the sector, aligning with the Commission’s mandate under the Competition Act of 2010 to prevent anti-competitive practices and promote fair competition.

This decision by the CCP underlines its commitment to monitoring and regulating mergers to ensure they do not impair the competitive landscape, while also supporting potential growth and stability in the real estate market of Pakistan.

The post CCP Greenlights Major Real Estate Merger in Islamabad appeared first on pakistannewsgazette.com.