Historic Landmark of Aung San Suu Kyi Remains Unsold in Fourth Auction Attempt

Myanmar's efforts to auction Aung San Suu Kyi's historic family property failed again as there were no bidders. The property, valued over USD 128 million, carries cultural significance linked to Suu Kyi's nonviolent resistance against military rule. Opponents of the military discourage its sale, citing potential repercussions.

Myanmar's authorities faced a setback when a fourth attempt to auction the historic family property of Aung San Suu Kyi drew no bidders on Tuesday. The iconic site, spanning 1.9 acres on Inye Lake in Yangon, is deeply connected to Suu Kyi's storied campaign against military rule.

Despite a reduced floor price of 270 billion kyats, intentions to buy were seemingly halted by warnings from anti-military advocates who view the property as a symbolic monument. Many potential buyers fear backlash in a country where military rule opponents have previously targeted affiliates of the regime.

The legal wrangle surrounding the property, stemming from a dispute between Suu Kyi and her brother, has resulted in ongoing auction attempts. Suu Kyi remains imprisoned under the military regime, while her lawyers continue to contest the sale in court.

(With inputs from agencies.)