![]() ![]() I was a bit more realistic and said maybe one more but it’s taken a bit longer than we anticipated and it’s because of market conditions.” “The market was buoyant and they said we’re going to open three more (restaurants) before the end of the year. “At that time my partners were very optimistic,” Mr Loh said. Shopping centre managers Hawaiian, Westfield Group and JLL followed suit, approaching Messrs Loh, Han and Park to open outlets around Perth.ĭespite their initial enthusiasm, however, Mr Loh said the founders gradually took a more cautious view of market conditions than their suitors a view that has been vindicated in light of current economic conditions. The 100-seat restaurant at Waterford Plaza showed such promise within six months of opening that property manager Lease Equity offered the opportunity for a new restaurant in another of its centres. Raymond Loh and SJ Han, who opened Restaurant Gangnam in late 2013 with business partner and chef Chang Woo Park, told Business News a subdued market was eating away at their growth opportunities. The founders of a popular Korean restaurant in Karawara have curtailed their original expansion plans, despite being flooded with offers to open a number of new outlets.
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