Remedy Entertainment's annual report reveals exciting progress on several fronts. Control 2 has cleared a major hurdle, successfully completing concept validation and entering full production. This signifies a significant step forward for the highly anticipated sequel.

Alongside Control 2, two other projects are actively under development: FBC: Firebreak and the remakes of Max Payne 1+2. These titles, previously in the pre-production phase, have advanced to the next stage of development. However, the studio has confirmed the cancellation of Kestrel, a project developed in collaboration with Tencent, which was terminated in May of last year.

All current projects leverage Remedy's proprietary Northlight engine, a technology proven successful in titles such as Alan Wake 2 and other Remedy games.

Financially, Control 2 boasts a projected budget of €50 million. Self-published by Remedy, it's slated for release on Xbox Series X|S, PlayStation 5, and PC. FBC: Firebreak, with a more modest budget of €30 million, will launch on PlayStation and Xbox subscription services, alongside Steam and the Epic Games Store.

While the budget for the Max Payne 1+2 remakes remains undisclosed, Remedy confirms they will be AAA-quality titles, with development and marketing fully financed by Rockstar Games.