The KDE Project just announced a new Beta release of the new 4.12 version of Applications and the KDE Development Platform.
This is the first beta released in the new KDE 4.12 branch and even if its not yet ready for full integration, it does provide an idea on what to expect next.
"This release does not include Plasma Workspaces, which was frozen for new features in its 4.11 series. The Development Platform has been virtually frozen for a number of releases in anticipation of KDE Frameworks 5,” reads the official announcement.
The developers have explained that they are now focusing on bug fixes and various aspects that still need some polish.
If you want to get an idea on what KDE 4.12 will bring, you should take a look at the Feature Plan.