Sold for $2m: One of 37 chalets at airshow site

Source : The Straits Times, Feb 22, 2008

ONE of the latest investments in Singapore by American defence giant Lockheed Martin is a beachfront bungalow at the Singapore Airshow site.

The final bill for the two-storey structure when fully furnished came to 'about $2 million', said Mr Jim Gribbon, Lockheed Martin's Singapore-based vice-president for South-east Asia, yesterday.

The 37 chalets that line the strip of reclaimed land facing Pulau Tekong - literally a stone's throw from the high-tide mark - are popular watering holes for aerospace executives as they wine and dine potential clients.

Most chalets come with open viewing decks on their roofs. These have proven popular as vantage points to catch the daily aerial displays.

To get past the front door of most chalets, one needs to be invited.

'We've had a non-stop stream of customers and visitors. One of the key times is during the flying display and we've had the pleasure of hosting various delegations from the viewing deck.

'We got a magnificent view as the planes came roaring past,' said Mr Raymond Francis, Boeing's Singapore-based communications director for South-east Asia.

Chalet tenants have spared no effort to make their guests feel welcome.

For instance, European aircraft maker Airbus flew in a French chef to whip up gastronomic delights in a chalet that one visitor described as 'looking like a five-star hotel'.

Unlike the previous airshow where chalets were torn down after the event, four exhibitors who built their chalets will keep the structures until the next event two years down the road.

One company said it had not decided what to do with its chalet in the year-plus lull before the Singapore Airshow 2010, but there is a possibility that the property may be rented out.