An attempt to auction Aung San Suu Kyi's family residence in Yangon failed to attract any bidders on Wednesday. The auction, marking the third effort to sell the lakeside property, was unsuccessful despite the court-ordered asking price being lowered from $142 million to $141 million. The property, significant as a landmark for Suu Kyi's nonviolent resistance that led to her Nobel Peace Prize, has also been involved in a legal battle between her and her brother, Aung San Oo, over its division.
Suu Kyi, Myanmar's former leader, is serving a 27-year prison sentence on charges regarded by supporters as politically motivated. Ousted from power by a military coup in February 2021, the country has since descended into a civil war. The property, originally granted to Suu Kyi's mother, Khin Kyi, after the assassination of her husband, independence hero Gen. Aung San in 1947, had an initial asking price of $150 million in March. This was reduced to $142 million by August, and further to $141 million at official rates by the latest auction.
The auction proceedings, held outside the closed gates of the property, ended without any bids as a district court official announced: "The auction is unsuccessful as there is no bidder." Suu Kyi lived at this residence until 2012, hosting world leaders such as US President Obama, Secretary of State Hillary Clinton, and UN Secretary-General Ban Ki-moon before moving to the capital to serve in parliament following her release from house arrest in 2010. The property has also been an unofficial headquarters for Myanmar's pro-democracy movement. (This story was generated by Newser's AI chatbot. Source: the AP)
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