The Tun Razak Exchange (TRX) and Bandar Malaysia development projects, both owned and implemented by controversial 1MDB can rejuvenate the 'old' Kuala Lumpur.

"Kuala Lumpur is going through a very interesting phase as well.

"It is an old city, but with TRX coming in, Bandar Malaysia coming in, the MRT coming in, you will see a lot of opportunities in terms of new frontiers to be explore," Urban Wellbeing, Housing and Local Government Minister Abdul Rahman Dahlan said today.

"It is rejuvenating itself quite nicely at the moment," Rahman added.

The construction of the Kuala Lumpur-Singapore High Speed Rail, which is slated to be completed in 2022, will also add to the development of the area, he said.

1MDB purchased 70 acres of TRX land on Jalan Tun Razak at RM64 per square foot (psf), totalling RM320 million.

TRX came under limelight when Lembaga Tabung Haji bought a piece of land for RM188.5 million or RM2,773 psf, which has been criticised as being highly overpriced.

It was then reported Affin Bank has acquired the Tabung Haji land in TRX at a record-breaking price of RM4,699 psf.

1MDB envisages the 486-acre Bandar Malaysia site to become the yardstick for sustainable urban housing within Malaysia, with both MRT and high speed rail passing through the site.

It was reported in March that the second MRT line (MRT2), the Sungai Buloh- Serdang- Putrajaya route, was realigned to pave way for MRT to enter Bandar Malaysia, instead of passing through the densely-populated Pandan and Cheras.

Two stations will be built in Bandar Malaysia, while another will be built in TRX.

MRT Corp then came out to deny claims that the denied the realignment was carried out on the directive of the government in order to help 1MDB's project.