Kuala Lumpur, often abbreviated as K.L., is the federal capital and most populous city in Malaysia. The city covers an area of 243 km2 and has an estimated population of 1.6 million as of 2010. Greater Kuala Lumpur, also known as the Klang Valley, is an urban agglomeration of 6.9 million as of 2010. It is among the fastest growing metropolitan regions in the country, in terms of population and economy.Kuala Lumpur is the seat of the Parliament of Malaysia. The city was once home to the executive and judicial branches of the federal government, but they were moved to Putrajaya in early 1999. Some sections of the judiciary still remains in the capital city of Kuala Lumpur. The official residence of the Malaysian King, the Istana Negara, is also situated in Kuala Lumpur. Rated as an alpha world city, Kuala Lumpur is the cultural, financial and economic centre of Malaysia due to its position as the capital as well as being a key city. Kuala Lumpur was ranked 48th among global cities by Foreign Policy's 2010 Global Cities Index and was ranked 67th among global cities for economic and social innovation by the 2thinknow Innovation Cities Index in 2010.Kuala Lumpur is defined within the borders of the Federal Territory of Kuala Lumpur and is one of three Malaysian Federal Territories. It is an enclave within the state of Selangor, on the central west coast of Peninsular Malaysia.Since the 1990s, the city has played host to many international sporting, political and cultural events including the 1998 Commonwealth Games and the Formula One Grand Prix. In addition, Kuala Lumpur is home to the tallest twin buildings in the world, the Petronas Twin Towers, which have become an iconic symbol of Malaysia's futuristic development.