Aster gets Dh265m EDB financing to build two new Dubai hospitals

Dubai: Aster DM Healthcare has secured Dh265 million in financing from Emirates Development Bank to support the development of two new multi-specialty hospitals in Dubai. The agreement includes flexibility for additional funding as the company advances its expansion plans in the UAE.

Aster currently operates 10 hospitals in the UAE under the Aster and Medcare brands, with about 920 beds, along with 113 clinics and 298 pharmacies. Its UAE workforce includes 2,036 doctors and 4,063 nurses and healthcare professionals. The two planned hospitals will add more than 250 beds and expand Aster’s capacity to treat more than 560,000 additional patients each year. Once operational, the facilities will employ more than 675 doctors, nurses and allied health professionals.

Emirates Development Bank supports national priorities in sectors including healthcare, advanced technology, manufacturing, food security and renewable energy. Its CEO, Ahmed Mohamed Al Naqbi, said the partnership with Aster would expand access to quality care and strengthen the UAE’s economic resilience.

Aster’s GCC operations continue to grow following the 2024 acquisition of a 65 percent stake in the business by a Fajr Capital-led consortium. Aster maintains operational control under the Moopen family.

Alisha Moopen, Managing Director and Group CEO of Aster DM Healthcare, said the expansion aligns with the Dubai Economic Agenda D33 and will accelerate the availability of multi-specialty services in the emirate. The new hospitals are scheduled to begin construction in 2026 with phased commissioning.