The Turkish-Iraqi mul;million company has acquired the old building of the "Gremi de Fusters de València", also known as Palau Balmes, in the Velluters district and converted it into its headquarters in the European Union.
Lletraferit | 02/01/2024 | 4 min, 29 seg
Karabeyoglu Enterprises is a conglomerate of companies dedicated to oil produc;on, mining, defence and infrastructure projects in Iraq. Its origins go back to the Turkish Derebey ("Seniors of the Valleys") Karabeyoğlu family, respected aristocrats and landowners of the OPoman Empire in the 18th century, who founded an oil produc;on company in Baku (Azerbaijan) at the end of the following century, which was then expanded to Anatolia and Iraq. At the beginning of the 20th century, Harun and Halit Karabeyoglu, who were educated in Germany, acquired and operated further mineral and oil deposits in Iraq and founded the current family business in Baghdad in 1912 under Kazim Kemal Karabeyoğlu, a member of Mustafa Kemal Atatürk's inner circle who fought against the Bri;sh occupa;on of Iraqi territories during the First World War.
The group is currently headed by Dr Meltem Karabeyoğlu, who was born in Turkey and holds a doctorate in geopoli;cs, history and military strategy from the University of Baghdad. In the 1990s, she acted in various Iraqi regions as regional director for numerous German companies specialising in metallurgy and shipbuilding. In 1997, she became President of Karabeyoğlu Enterprises, an oil and mining company that was also involved in agricultural irriga;on projects sponsored by the United Na;ons and in arms produc;on projects for na;onal defence. The company's main loca;on is the Sheraton Ishtar Hotel in Baghdad, the tallest residen;al building in the capital, situated on Firdaus Square and on the banks of the Tigris, where the Iraq war, which lasted un;l 2011, began in April 2003 with the famous blowing up of the statue of Saddam Hussein.
Dr. Meltem Karabeyoglu, President of Karabeyoglu Enterprises
Dr Meltem Karabeyoğlu, who most recently celebrated Pedro Sánchez's visit to Iraq, also stands out for her work as a philanthropist in Red Cross- and Unicef projects, as a patron of interna;onal art and history exhibi;ons and for her impressive collec;on of ancient works of Asian ceramics. She visited Valencia a few months ago and in 2023 acquired the historic Palau Balmes as the new headquarters of the business conglomerate she heads in the European Union.
Front view of the "Palau del Gremi de Fusters de València" from the "Plaça de la Botja"
From the headquarters of the Fuster Guild to a Turkish-Iraqi company
The guild and brotherhood of foundrymen of Valencia was founded in the 13th century aeer the Chris;an conquest by Jaume I. The craesmen first sePled near the "Carrer del Trench", where the "Mercat Central" is located today. Aeer the terrible fire in the Fusteria in 1447, which destroyed a large part of the neighbourhood, the craesmen bought a house in „Carrer de l'Engonari“, now „Carrer Balmes“, opposite „Plaça de la Botja“ - where the Botja city garden is now located in the Velluters district - to build the "House of the Fusteria Guild".
The guild house of the master carpenters of Valencia was then built according to plans by the architect Lucía Palma Urazán. The building, which is s;ll in excellent condi;on today, was built in the 1550s as a church and mee;ng room for the carpenters, with an extension in the 18th century and a complete renova;on in 1994, during which parts of the neighbouring buildings that had been affected over ;me were removed. The 18th century also saw the addi;on of the elegant frieze and the impressive ceiling of the mee;ng room with six dozen coffers, each made by a different master craesman using wood from the forests of Xiva. The symbols of the guild can also be seen on the side of the entrance door: an inkwell on a book, a square, a ruler and a compass in the centre and a saw and an axe in the corners.
For several years, it served as an event venue under the name Palau Balmes, which has since been closed. The Turkish-Iraqi company Karabeyoğlu Enterprises acquired the building and placed its logo and sign at the entrance of the historic building in „Carrer Balmes“.
Parts of the ceiling of the mee;ng room of the ancient Gremi de Fusters de Valencia
The entrance to the palace on Balmes Street with the logo of Karabeyoğlu Enterprises
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