Aster DM Healthcare Secures AED265 Million Financing From Emirates Development Bank for Two New Hospitals in Dubai The financing follows Aster's recent expansion activity in the GCC.
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Aster DM Healthcare has entered into a financing agreement with Emirates Development Bank (EDB) for AED265 million, with the option for additional upsizing to support future projects.
The funds will be used to construct two multi-specialty hospitals in Dubai to address increasing healthcare demand in the UAE.
The agreement was signed by Dr. Azad Moopen, Founder Chairman of Aster DM Healthcare, and H.E. Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, in the presence of senior representatives from both organizations.
Aster DM Healthcare currently operates 10 hospitals in the UAE with approximately 920 beds under the Aster and Medcare brands, along with 113 clinics and 298 pharmacies. The company employs 2,036 doctors and 4,063 nurses and healthcare professionals. The two new facilities will add more than 250 beds and capacity to treat more than 560,000 patients a year. Once operational, they will employ more than 675 doctors, nurses and allied health professionals.
The financing follows Aster's recent expansion activity in the GCC. The company's regional operations have continued to grow across hospitals, clinics, and pharmacies. In 2024, a Fajr Capital–led consortium acquired a 65% stake in Aster's GCC business, while the Moopen family continues to manage the operations.
