Dont they have three different teams for the FF mainline series?

Nomura's team is working on Final Fantasy VII Remake

Tabata's team is working on Final Fantasy XV

So what about the team that made Final Fantasy IX and XII? (Going by the names of the director/producer) - doesnt seem like they are doing anything at least not known to be - maybe they are working on Final Fantasy XVI :O

From GAF

http://www.neogaf.com/forum/showthread.php?p=188226740#post188226740

Quick stuff from interviews

-they made multi-release since they would have to cut stuff out if they made it in one game. The detail of the game will be so dense, and you will be able to go to various locations within Midgar that you couldn't go before.
-there will be some stuff that has to be cut, but there will be lots of stuff added. overall volume will be big
-They are working with various companies outside, including CC2
-The battle system is real-time, action feel. The degree of action will be "Dissidia > Kingdom Hearts> FF7 remake" It will be more tactical.
-Although it's action style, it has ATB as well.
-You can control other party members, but you can keep control one if you want
-3 party members at a time like the original

Edit:

Nomura: VII in one work would turn into a digest. We judged that the remake must be full volume, so we decided to make [VII] multi-part.

Nomura: A subtitle for the VII remake would give the impression of a spin-off or sequel, so they avoided using one.

Nomura: If we make the characters reall, they'll look like real people and no one will recognize them, so we're aiming to balance.

Nomura: Advent Children models are too old, so they've been refining the graphics and balancing reality and deformation.

Aside from the CG shown at the beginning of the trailer, everything is in real-time. You can alter the camera angle during the train scene.

Cloud's appearance has to partially to do with the lighting and his pale skin. Nojima had said Cloud's sickly appearance is brilliant.

Cross-dressing scene will be included. Nomura has yet to work on the design, however.

Nomura: VIIR is completely different from Crisis Core's battle system. Not as actiony as Dissidia Arcade or KH but closer to that style.

Nomura: VIIR has ATB, but it's not the type where you wait for the gauge to fill up and then attack. It is connected with the action system.

Nomura: 3-member parties, all interchangeable and playable. You don't have to change characters if you don't want.

Nomura: The battle speed they're aiming for is Dissidia Arcade's. The battles we saw in the trailer are kind of like a standard to aim for.

Nomura went over the trailer so many times and doubted if it'd be all right to show, but the reaction he received has relieved him.

Nomura can't go into details about the battle system, but he said it's important to note that the ATB gauge turns red. Something significant.

Edit 2:

- About the details of splitting the game into episodes, please tell us more.

Kitase: From the beginning, we have considered it impossible to remake FF7 into one single game.Althought it's impossible to tell you the details about the splitting at the moment, please wait for our further announcement.

Nomura: If we tried to stuff the whole game into one release, some part of the game would have to appear as digests. We'd have to remove some contents from the game, and it would be difficult to add more to the game. Considering that a full remake of the original game must be achived, we have decided to split the game into episodes.

Kitase: Taking the No.8 street shown in the video this time, even just this is already highly dense. If we are to remake the content of the original version at that quality, it would have been impossible to do with a single release.

Splitting the original version into episode with nothing dropped, as well as adding complements, and remaking the game the game in its full volume is what we are thinking.