No Bidders for Second Attempt to Auction Aung San Suu Kyi's Historic Family Home
A second attempt to auction the family home of Myanmar's former leader, Aung San Suu Kyi, failed due to the court-ordered asking price of USD 142 million. The property, a historical landmark, has seen no bidders. Proceeds were to be split between Suu Kyi and her estranged brother, amidst ongoing legal disputes.
No bidders showed up for the second attempt to auction the family home of Myanmar's imprisoned former leader Aung San Suu Kyi on Thursday, likely due to the court-ordered asking price of USD 142 million.
Suu Kyi spent 15 years under house arrest in the lakeside property, which was a hub for visiting dignitaries and is seen as a historical landmark in her struggle for democracy. The minimum sale price was lowered to 300 billion kyats from the March attempt's asking price of 315 billion kyats.
Despite the reduction, the price remains unaffordable amid Myanmar's civil war and economic turmoil. Proceeds from the sale were to be split between Suu Kyi and her estranged brother, but no bids were received during the auction held in front of the property. Legal procedures for future proceedings remain uncertain.
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