The main road through Downtown Dubai has been renamed Sheikh Mohammed Bin Rashid Boulevard by developer Emaar Properties.
The naming of the route which boasts iconic attractions such as Burj Khalifa and The Dubai Mall, has been named in tribute to Dubai's ruler, Emaar said in a statement.
The 3.5km high street, previously called Emaar Boulevard, connects the destination's numerous shopping, hospitality, entertainment and dining attractions.
Downtown Dubai welcomed more visitors last year than New York (51 million) and Los Angeles (27 million), Emaar said in a statement carried by news agency WAM.
Mohamed Alabbar, chairman of Emaar Properties, said: "By renaming Emaar Boulevard as Sheikh Mohammed Bin Rashid Boulevard we are paying tribute to the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum who is the driving force of the city's transformation into the world's newest hub for hospitality, tourism, retail and trade."
With a development value of $20bn, the 500-acre Downtown Dubai was launched in 2004.
Alabbar added: "The Sheikh Mohammed Bin Rashid Boulevard in Downtown Dubai... is today the world's most vibrant lifestyle destination, on par with and even surpassing other boulevards in the world."