It's Dunia "2" but it looks more like it should be Dunia 1.5, not a huge graphical leap but it looks great regardless. It boasts some code of CryEngine 2 when some of the old programmers from CryTek went over to Ubisoft when ubi bought the rights to Far Cry. So there is a little CryTek in there. Pretty good engine from what I've played, very optimized.
well..just had a day of playing it on the 360, there are some serious graphical problems which are glaringly obvious from the get go. It feels like you are trying to run it on a pc that is not powerful enough, it has serious frame sync issues and a **** load of screen tearing! I really hope this is cos they rushed it out, and that it can be fixed in a patch because it does spoil the game in some parts :(