The game has been in development for years, but the recent platform and name change for Final Fantasy XV doesn't necessarily indicate that it is releasing in the near future.

During a Square Enix event, the company revealed that this fiscal year will only see the release of two Final Fantasy titles: Lighting Returns and the FF X/X-2 HD remaster. It also confirmed that Lighting Returns (which releases next February) will be the last current-gen Final Fantasy title.

Square Enix's fiscal year end on March 31, 2014, which means that it will be almost another year (at least) before Final Fantasy XV is complete.Square Enix would not comment as to the current progress on the game's development. At any rate, don't expect the title to be part of any next-gen systems' launch lineups.