Aster DM Healthcare has secured Dhs265m in financing from Emirates Development Bank (EDB) to support the expansion of its healthcare network in Dubai, with flexibility to increase the facility for additional projects.
The funding will be used to develop two new multi-specialty hospitals in the emirate, adding more than 250 beds to Aster’s current capacity of around 920 beds.
Once fully operational, the expanded capacity is expected to allow treatment of more than 560,000 patients annually in the UAE, in addition to the 20 million patients the group serves across the Gulf region.
The agreement was signed by Dr Azad Moopen, founder chairman of Aster DM Healthcare, and EDB CEO Ahmed Mohamed Al Naqbi, in the presence of Alisha Moopen, Iqbal Khan and senior officials.
Aster currently operates 10 hospitals, 113 clinics and 298 pharmacies in the UAE under the Aster and Medcare brands. Its workforce includes 2,036 doctors and 4,063 nurses and healthcare professionals.
The new hospitals will employ more than 675 doctors, nurses and allied health staff once operational.
EDB, the UAE’s development bank, focuses on providing financial and non-financial support across five priority sectors: manufacturing, advanced technology, food security, healthcare and renewable energy.
The bank says its mandate is aimed at strengthening the private sector, boosting national capabilities and supporting economic diversification.
Aster said the financing follows its growing developmental impact in the UAE.
The company’s GCC operations have gained momentum across hospitals, clinics and pharmacies after a Fajr Capital-led consortium acquired a 65 percent stake in Aster’s GCC business in 2024.
The Moopen family continues to operate and manage the business.
“Healthcare is a mission-critical pillar of the UAE’s future
By empowering leading partners like Aster DM Healthcare to grow, we help unlock broader economic value for the nation,” Al Naqbi said. “This partnership expands access to quality care, builds national capabilities, and strengthens the UAE’s economic resilience and competitiveness.”
A key milestone in Aster’s journey
Alisha Moopen, MD and group CEO of Aster DM Healthcare, said the expansion aligns with the Dubai Economic Agenda D33. “The partnership with Emirates Development Bank represents a significant milestone in Aster’s Dubai journey which will enable us to accelerate the expansion of high-quality, multi-specialty care in the UAE,” she said.
Iqbal Khan, CEO of Fajr Capital and board member of Aster DM Healthcare, said the announcement reflects Aster’s operational fundamentals and the long-term potential of the UAE healthcare sector.
Construction on the new hospitals is expected to begin in 2026, with phased commissioning to follow.
Aster said the expansion reinforces its commitment to providing accessible and world-class care in the UAE.