The Al Jalila Foundation has raised Dh300 million for the Hamdan bin Rashid Cancer Charity Hospital.
Billed as "the UAE’s first charity hospital that seeks to help cancer patients in need", it is due to open in 2023.
It will provide outpatient, ambulatory and diagnostic services as well as inpatient and surgical services.
About 4,500 cases of cancer are diagnosed every year in the UAE, making it the third leading cause of death in the country.
Patients will be accepted to the hospital from all emirates where services would either be free or highly subsidised.
The Al Jalila Foundation aims eventually to raise a total of Dh750 million for the 250-bed hospital which will span 50,000 square metres and is expected to be able to treat up to 30,000 patients per year.
The hospital will also work with the Mohammed Bin Rashid Medical Research Institute on research studies to advance cancer care.
"The hospital is set to become a leader in cancer care, and we are immensely grateful to the philanthropic community for their contributions, which are helping us in realising our objective of making quality health care accessible to the most vulnerable in society," said Sheikh Ahmed bin Saeed, chairman of the board of trustees at the Al Jalila Foundation.
"The development of the Hamdan Bin Rashid Cancer Charity Hospital stems from our vision to provide truly inclusive healthcare services and the high priority we place on the wellbeing of the UAE’s citizens and residents."
The facility was named in honour of Sheikh Hamdan bin Rashid, the late Deputy Ruler of Dubai.
The centre was announced in April by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, who said Sheikh Hamdan was one of the cornerstones of the UAE's rapid development over the past 50 years.
He was appointed Minister of Finance in the Cabinet under Sheikh Zayed, the Founding Father, after the formation of the country in December 1971 and held the post until his death in March.
He was in his mid-70s.