Dubai is one of the seven emirates comprising the United Arab Emirates. "Dubai City” as it is sometimes called is the United Arab Emirates main city. Since 1833 Dubai has been ruled by the Al Maktoum dynasty. The current ruler of Dubai is Sheikh Mohammed Bin Rashid Al Maktoum and he is also the Vice-President and Prime Minister of the United Arab Emirates. Dubai is distinguished by its hospitality and rich cultural heritage. Due to its strategic location it has rapidly become a major business centre and trade hub in the world. Worldwide attention has focused on the innovative real estate projects being launched in Dubai. Tax free life, luxurious villas, spacious apartments, cutting edge offices, man-made lakes and lush islands add to its allure. In the freehold areas of Dubai foreigners can invest in a variety of commercial and residential Dubai real estate. High appreciation and strong rental returns are attracting investors to buy property in Dubai.