26.03.2025 – (04:30 PM)
The Kamayut District Court on March 25 reduced the auction price of Plot No. (54) on University Avenue, Yangon, where Aung San Suu Kyi lived, by Ks27 billion to Ks270 billion, according to sources close to the court.
The third auction of Plot No. (54) was held on February 5, 2025, with the price set at Ks297 billion, but no bidders came.
Then, the court accepted U Aung San Oo’s application to reduce the auction price of Plot No. (54) from Ks297 billion to Ks270 billion, and changed the price.
The lawyers for Daw Aung San Suu Kyi will file an appeal against the decision of the Kamayut District Court.
The first auction of Plot No. (54) was held on March 20, 2024, and the floor price was set at 3,150,000 kyats (315 billion kyats), but there were no buyers. After the auction, U Aung San Oo’s side submitted to the court to reduce the floor price to 285 billion kyats. The court adjusted the floor price to 300 billion kyats and held a second auction on August 15, 2024, but there were no bidders.
The court then decided to reduce the auction price of Plot No. (54) by three billion kyats from 300 billion kyats to 10 billion kyats, and the third auction was held for 297 billion kyats.
Plot No. (54) has an area of 1.923 acres and 83,765.88 square feet.
Plot No. (54) is owned by Daw Khin Kyi and Aung San Suu Kyi’s brother U Aung San Oo applied for the inheritance. In 2016, the Yangon Western District Court ruled that the two-story building and half of the land should be divided between Aung San Suu Kyi and U Aung San Oo.
However, U Aung San Oo appealed against the court’s decision to auction the entire property and divide the proceeds equally, but the final order was made in accordance with the previous order.
Then, dissatisfied with the court’s final decision on the inheritance case, U Aung San Oo filed an appeal with the Supreme Court of the Union on October 17, 2018, which was dismissed by the Supreme Court of the Union on December 12.
Then, on January 11, 2019, U Aung San Oo filed a special appeal with the Supreme Court of the Union, and on August 22, 2022, the Supreme Court of the Union again issued an order granting the inheritance distribution regarding Plot No. 54 as requested by U Aung San Oo.