This is interesting news. If you want to be taken back to the Paradise City where the grass is green and girls are pretty (and experience Burnout Paradise on a current generation console), you may be in luck.
As reported by Gematsu, Burnout Paradise will be released on the PS4 in Japan. The release is slated to be on March 16 for 4104 Yen (roughly RM145). This lines up with various rumours, including a leak from a Brazilian retailer, suggesting that a remaster, or at least a port, of the open world racing game to arrive this year.
EA has been adamant to not make remakes or remasters, as well documented here and here. They prefer to reboot franchises instead, which explains Mirror’s Edge Catalyst, a soft reboot/prequel, the Syndicate reboot which was an FPS rather than a strategy game and the various Need For Speed games over the years having the same name.
More likely this will be marketed as a port release rather than a remaster or remake of the original 2008 release. We have yet heard any official announcement, but it should likely be happening soon.