They are working on it now with two separate projects. There's a TV series and a movie coming. Ridley Scott is involved with both.
The TV series is an FX on Hulu production with Noah Hawley involved so I have high hopes. Production is rumored to take place next year on the show. The film was announced in March and will be directed by Fedé Álvarez. The film is described as being "set separately from the earlier movies", so i'm wondering if this is going to be a franchise reboot.
If the Alien stuff is successful, plus maybe another Predator movie in the next few years, then my hope is that we can eventually get a good AvP movie. I'm just happy to see that Disney is doing things with these R-rated properties and not just letting them sit there without being used for new projects.