JS Hotel REIT Receives CCP Approval to Acquire Elite Hospitality Ventures

The Competition Commission of Pakistan has approved JS Hotel REIT’s acquisition of Elite Hospitality Ventures (Private) Limited, marking a significant development in Pakistan’s Shariah-compliant real estate investment trust sector. The acquisition will be executed through a Share Purchase Agreement, allowing JS Hotel REIT, a newly established hybrid Shariah-compliant REIT operating under the Real Estate Investment Trust Regulations, 2022, to acquire shares of Elite Hospitality Ventures.

Elite Hospitality Ventures is a special-purpose company created to develop and operate a four-star Hilton Garden Inn hotel in Hyderabad. The Competition Commission reviewed the transaction’s structure, potential effects on competition, and its possible impact on the hospitality market in Hyderabad. Since neither JS Hotel REIT nor Elite Hospitality Ventures currently operate in the hotel sector, the deal involves no horizontal or vertical overlap, minimizing any risk of market distortion or anti-competitive behavior.

After evaluating potential concerns, the CCP concluded that the acquisition does not reduce competition, create dominance, or negatively affect the market. Consequently, the regulator authorized the deal under Section 31(1)(d)(i) of the Competition Act, 2010.

This approval is expected to support the timely development of the Hilton Garden Inn project in Hyderabad while contributing to the growth of Shariah-compliant REITs in Pakistan’s real estate and hospitality sectors, further strengthening investor confidence and sectoral development.