Daily Briefing: Singapore's real estate market is 9th most dynamic in the world, Sea Group buys Canadian game developer Phoenix Group

And Steve Leonard to step down as SGInnovate founding CEO.

From iCompareLoan: 

Singapore ranked 9th in JLL’s City Momentum index of most dynamic real estate markets in the world. 

The report attributed this to a combination of healthy office rental growth and heightened real estate investment as well as surging tourism levels which boosted the country’s hotel sector.

Reflecting the vigour of the tech sector, three US cities appeared in the top 10 list. Silicon Valley came out top, Boston bagged the 4th spot, whilst Austin ended at the 6th spot. 

Read more here. 

From DealStreetAsia:

NYSE-listed Sea Group, through its digital entertainment unit Garena, has fully acquired Vancouver-based independent games developer Phoenix Group.

This is Sea Group’s first major acquisition under Garena. It is also the first such major acquisition made by a Southeast Asian consumer internet company from North America.

Phoenix Labs is the creator of Dauntless, a popular cross-platform co-op action role-playing game.

According to a statement, Garena will absorb Phoenix Lab’s team of 100 experienced AAA game developers as part of the deal. Phoenix’s existing management team, however, will continue to run the studio

Read more here.

From e27:

SGInnovate has announced that its founding CEO Steve Leonard would be concluding his term in May 2020.

Prior to his role as the CEO of SGInnovate, Leonard served three years as the Executive Deputy Chairman at the Infocomm Development Authority (IDA), a government statutory board under the purview of Singapore’s Ministry of Communications and Information. 

Read more here.