According to an Andriasang report, Famitsu's debuting a massive Square Enix RPG in its latest issue.
From what the magazine seems to be saying, the game will be powered by Unreal Engine. Square announced a deal with Epic Games to licence UE3 for "multiple" projects a few weeks ago.
Produced by Dragon Quest IX producer Ryutaro Ichimura, the title is for consoles, but Square is also apparently looking at a next-gen release.
The core development team is currently around 35, according to Famitsu, with recruiting on the project set to ramp up soon.
The magazine implies that, going by character art and illustrations, the project will be aimed at an overseas audience.