Eidos Montreal Working on Unannounced “AAAA” Game in Unreal Engine 5
After spending months assisting Playground Games with Fable and Obsidian with Grounded 2, Eidos Montreal is pivoting back to lead development as rumors circulate of a new “AAAA” title.
A new job listing by Eidos Montreal has revealed that the studio is working on a new project, codenamed “P11.” The unannounced title is being pitched internally with the controversial “AAAA” label, signaling a budget and scale that dwarfs their previous work.
The listing was discovered by Timur222 on X, and corroborated by Insider Gaming’s Tom Henderson, who says sources revealed the game has “been in development since around 2019.”
👉 READ ALSO: STALKER 2 Switching to Upgraded Version of UE5
Project P11: The “AAAA” Definition & Risk
The term “AAAA” (Quad-A) usually triggers skepticism. Ubisoft famously used it for Skull and Bones, and The Initiative used it for the now-canceled Perfect Dark reboot. Now, Eidos Montreal is adopting the tag for their unannounced IP.
This designation suggests a production value that pushes current hardware to its absolute limit. For a studio that delivered the critically acclaimed, but commercially underappreciated, Guardians of the Galaxy, this is a bold move.
It signals a break from the Foundation Engine. Eidos is betting everything on the flexibility of Unreal Engine 5 to handle this massive scope.
The risk is tangible. High-budget “AAAA” development requires massive sales figures to break even. Given the studio’s history with Marvel’s Avengers (a commercial failure despite the budget), the pressure on P11 to perform is immense.
Eidos-Montréal is working on an Unannounced AAAA game pic.twitter.com/IJzp46rsdM
— Timur222 (@bogorad222) January 14, 2026
UE5 & New IP vs. Industry Trends
Project P11 is rumored to feature a “WiLD” aesthetic, potentially revisiting concepts from past canceled industry projects or entirely new sci-fi frontiers.
Moving to Unreal Engine 5 solves a major bottleneck. It allows the team to recruit talent faster, as they no longer need to train developers on proprietary tech.
However, the timing is precarious. Eidos is owned by Embracer Group, a parent company currently notorious for ruthless cost-cutting and studio closures.
Funding a “AAAA” title in this economic climate is a gamble. If project P11 bloats in development or misses its window, the studio could face the same restructuring that hit Volition and Free Radical Design, with Volition shut down and Free Radical Design losing over 900 staff in 2023.
Gamers should watch this closely. This project represents one of the few massive single-player-focused bets currently in production under the Embracer umbrella.
Is Eidos Montreal Ready for the Spotlight Again?
The talent at Eidos Montreal is undeniable. Deus Ex: Mankind Divided and Guardians of the Galaxy proved they can craft compelling narratives and great gameplay. However, slapping a “AAAA” label on a project often invites disaster. It sets expectations at an impossible level before a single screenshot is revealed.
Does the “AAAA” label make you excited for the scope of P11, or worried about the monetization?
Fueled by a passion for gaming and the ever-evolving world of gaming news, Daniel loves connecting with seasoned and new players to bring games to life on the page, exploring their narratives and gaming trends. A self-published fiction and fantasy author, Daniel has nearly 20 years of experience writing gaming news and a love for storytelling that drives his enthusiasm to deliver breaking news, in-depth analysis, and industry innovations. You will find him in-game as "Windfell."
Download the Allkeyshop Browser Extension Free
For all the latest video game news, trailers, and best deals, make sure to bookmark us.
You can find all the best and cheapest online deals on CD keys, game codes, gift cards, and antivirus software from the verified CD key sellers on our store pages.
To not miss any news on Allkeyshop, subscribe on
Google News
.
MORE RELEVANT ARTICLES
