This comes as the Competition Commission is taking legal action against a local real estate brokerage firm and two of its real estate arms, accusing the companies of conspiring with competitors to set minimum rates by agreeing to charge at least two percent in commission. In response to regulators’ claims, the real estate agency giant said it would reserve the right challenge the legal action.

In a media statement, the Competition Commission highlighted that prices should be regulated by market forces, calling on firms knowingly engaging in price fixing cartels to submit a leniency application.

It is not the first time that a local company is suspected of price fixing, with several firms having been on regulators’ radar.

How common is price fixing in the property sector? What constitutes a breach of the ordinance? And how do we compare to other jurisdictions?

After 9:40, we discuss with local delegates ahead of the UN Climate Change Conference in Dubai.

9:05am-9:40am: Price fixing in real estate

9:05am-9:15am: Lester Lee, Executive Director (Legal Services), Competition Commission

9:15am-9:45am:  Peter Churchouse, Founder of Portwood Capital

9:15am-9:45am: Sandra Marco Colino, Associate Professor, Faculty of Law, The Chinese University of Hong Kong

9:40am-10:00am: 2023 United Nations Climate Change Conference (COP 28)

9:40am-10:00am: Annabelle Ho, Climate Advocacy Training for Youth Graduate and CarbonCare InnoLab COP28 Youth Delegate

9:40am-10:00am:  Hiu Chung Kwok, Senior Programme Officer of CarbonCare InnoLab