Geraldton’s Best Kept Secret: They Don’t Need the Oakajee Project to be Prosperous

The Oakajee Port, located on Geraldton property, is projected to be one of the biggest and most important constructional developments of the near future. This port will mean huge improvements in the rail system used to transport iron ore from deeper within the country. However, there have been some delays in its construction due to problems with insufficient funding.

This brings to mind a question that is important to the people of Geraldton: “Will Geraldton still be a great place to live, even if the Oakajee Project doesn’t go through?”

The answer is, “Yes”.

Oakajee Port Project in Geraldton Property

No Funds? No Worries.

The construction of the Oakajee Port Project was brought to a temporary standstill last year when Japanese investor Mitsubishi failed to deliver enough funding. Recently, it was revealed that another investor had stepped forward and agreed to finance the remainder of the total $6 billion project.

However, it turned out that the announcement was premature and inaccurate. Many around Geraldton have taken the attitude that if Oakajee ever gets off the ground, it will be great, but that Geraldton still has plenty to offer right now, just as it is.

For more than a year, Geraldton businessmen have continued to do as they have when the project was first bandied about in the 1990s: diversify. While a few speculators didn’t do very well, those who were there for the mining boom were rewarded handsomely.

One of the ways that Geraldton has diversified is that their businesses serve more than just Geraldton. Geraldton has become a “hub” in the Mid West, serving areas such as Murchison, Goldfield and Pilbara.

Although it’s no secret that the mining industry contracted last year, it’s also no secret that they have done a great job of retooling and streamlining and are set to go ahead with numerous projects in the next five years.

Those who buy property in Geraldton now will be handsomely rewarded if they hold onto that property for the next fifteen or twenty years, regardless of the Oakajee Project. And if the project does finally get off the ground, it will mean faster growth.

But Oakajee does not control Geraldton’s fate: Geraldton has it well under control.

To learn more about upcoming opportunities in Geraldton, call (08) 9301 4445.