At one point some ten years ago, Ubisoft has seemingly worked on a Prince of Persia reboot that we're just now seeing for the first time.
Ubisoft never officially announced the Prince of Persia project in question, or event hint that the series is making a comeback. But, according to the resume of at least one former Ubisoft developer, the publisher was indeed working on a Prince of Persia project between 2010-2011.
The LinkedIn page for Christophe Prelot, a former level artist at Ubisoft Montreal, has the project listed, though not its full title. A video showing gameplay footage was uploaded to YouTube all the way back in 2012.
It's called Prince of Persia Redemption, and the channel responsible for it has no other videos. Another hint that this is legit is a YouTube comment from 2018 by Marc-Andre Belleau, a Ubisoft technical designer who's been with the company since 2009. Belleau's LinkedIn page doesn't list the names of projects he worked on, however, but it's clear he recognised the game when he came across the video.
The footage, which you can watch below in full, looks too good for a game meant for Xbox 360/PS3. This was likely a target render, but the character moves and world destruction are all fantastic, even by modern standards. If you ignore the visuals for a bit, this could very well stand on its own as a modern game with some tweaks.