Myanmar court orders auction of property at No. 54 University Avenue at reduced price amid inheritance disputeMarch 27, 2025

Mizzima

The Kamayut District Court has ordered the auction of property No. 54 on University Avenue in Yangon at a reduced price of 270 billion kyats (US$128 million), as proposed by Aung San Oo, according to sources close to the court. This fourth auction is scheduled for 29 April.

There have been three previous attempts to auction the property. Starting at a court-set floor price of 315 billion kyats (US$149.9 million) for the first auction, then 300 billion kyats (US$142.8 million) for the second, and 297 billion kyats (US$141.4 million) for the third.

However, there were no bidders for any of those auctions. Consequently, Aung San Oo submitted a bid 27 billion kyats lower than the last price in order to facilitate a re-auction, which the court has now accepted.