Square Enix made a brief comment about why there has not yet been a remake of Final Fantasy VII, and why there may never be one. It actually ties into the same reason why Final Fantasy XIII is a far more linear Final Fantasy than what you may be used to, and why there are no actual towns in 13.
There it is, Final Fantasy fans, the reason why there has not been a remake of what many say is the best Final Fantasy title released to date: Time.
In the same interview in which Toriyama explains the linearity of Final Fantasy XIII, he also mentioned the lack of towns was due to the fact that in producing HD quality graphics it would take far too much time for the developers to create.(...)
He explains, "This issue is related to whether a Final Fantasy 7 remake will happen or not. It is very hard to make games on PlayStation 3 in the same style as the games in that era had. Making graphics will take enormous time."
He explains, "This issue is related to whether a Final Fantasy 7 remake will happen or not. It is very hard to make games on PlayStation 3 in the same style as the games in that era had. Making graphics will take enormous time."
There it is, Final Fantasy fans, the reason why there has not been a remake of what many say is the best Final Fantasy title released to date: Time.