Here it is, the first look at Rockstar’s latest project, Grand Theft Auto V. We’ve all been anticipating this since the video game developer hinted at its arrival in the form of an image. Check it out above, then read on.

In an official press release, it is confirmed that Grand Theft Auto V is currently in full development and Rockstar North– GTA series creator–is leading the charge. The game will take place in the fictional “city of Los Santos and surrounding hills, countryside and beaches in the largest and most ambitious game Rockstar has yet created.” Rockstar is keeping mum about the game’s plot. The PR only goes so far in saying this: “A bold new direction in open-world freedom, storytelling, mission-based gameplay and online multiplayer, Grand Theft Auto V focuses on the pursuit of the almighty dollar in a re-imagined, present-day Southern California.” Rockstar Games founder Sam Houser adds, “Grand Theft Auto V is another radical reinvention of the Grand Theft Auto universe. We are incredibly excited to share our new vision with our fans.”

After watching the trailer there are a couple things we can speculate. First, it would make sense that the narrator is the protagonist of the game and what we know is that he is a father in pursuit of a better life; he wants to be “a good guy for once, a family man.” Now even though the trailer features one narrator, it does jump around between various characters. Whether or not this means the game will have players jumping in and out of the shoes of more than one character is still up in the air. But it’s certainly fun to speculate. Mission-based gameplay is expected, while multiplayer co-op is on every one’s wish list. A release date has not been set, but I’d say it’s safe to assume a holiday 2012 launch. Once again, stay tuned.