Tekken 7 has officially been announced for Xbox One & PS4, and is being built using the Unreal Engine 4.
Tekken series producer Katsuhiro Harada had the following to say about it: “With Unreal Engine 4, we can rapidly achieve the visual quality expected on next-gen platforms and go beyond it. Not only is Unreal Engine 4 powerful and easy to use, but it allows us to easily bring Tekken 7 to any platform we desire.”
There is no further information for now, but they Bandai Namco did release an official announce trailer. See below: