During Sony's E3 2015 press conference, Square Enix announced that it's working on a remake of Final Fantasy VII. The developer mentioned that Final Fantasy VII will appear first on the PlayStation 4, something that indicates that the remake could find its way at other platforms including the PC at a later date.

　　As is apparent in the trailer the look is more akin to the Final Fantasy VII: Advent Children movie, rather than the look of the original game. The evolved and updated visual style, will do well with the new Luminous Engine used in Final Fantasy XV. It almost seems that Square Enix have been waiting for the right time for the technology and hardware available to be ready to capture the vision they had in mind for a remake of the classic iconic Final Fantasy iteration, that changed RPG gaming for millions of gamers around the world.

Final Fantasy XV director reports that Final Fantasy VII Remake will not be using the Luminous Engine

　　“Final Fantasy VII (Remake) is not planned to be made with that.”

　　Kingdom Hearts 3, dropped the Luminous Engine in favor of Unreal Engine 4 in 2014. The Luminous graphics engine is in development at Square Enix and was shown to the public for the first time in 2011. It now powers Final Fantasy XV and will be enhanced alongside the game development.

　　We will bring you any new information on the Final Fantasy VII Remake, Final Fantasy XV, as well as Kingdom Hearts 3 as soon as it becomes available.

　　source