An image uploaded to genDESIGN's official website appears to tease the next project from the creator of The Last Guardian, Shadow of The Colossus, and ICO. Hidden sneakily underneath a celebratory New Years message, the image features a girl sitting on an altar looking at a shadowed giant figure. Also, it features a large expanse of nothing but black and a few birds. Leading to the belief that the shadowed figure in the bottom right is a giant. ResetEra user Rösti looked into the image source code and has appeared to find some text relating to the image. The text reads "Beauty and the Beast 2018". Possibly hinting at a relationship between this girl and giant creature.
Fumito Ueda worked on ICO, Shadow of the Colossus, and The Last Guardian. He formed genDESIGN in 2014 during The Last Guardian's torturous development cycle. Whilst genDESIGN were still contracted to work on The Last Guardian, it does not seem out of the realm of possibility that alongside developing The Last Guardian, a new project was being developed by the small Tokyo-based studio.
In terms of what we can expect from the game, we really can't tell much from this image. Although, it does appear to draw upon similar imagery and themes to Ueda's past works, particularly giant creatures and an unusual bond between two beings. Ueda's last title The Last Guardian released in December of 2016, and you can check out our articles for the game on KeenGamer.
A remake of Ueda's Shadow of the Colossus is coming to PS4 in February, by-way of Bluepoint Games. Therefore, it is unlikely we will get any more information on Ueda's next game in the next couple months. However, an announcement at Sony's E3 Press Conference this year could very well occur.