Rekonq 1.2 was released as just a bug-fix release while its announcement mentions that it's likely the last out of the 1.x series. Development efforts now are focused upon Rekonq 2.x.
The first stable release of Rekonq 2.0 is expected around late December. There's a screenshot hint at what's to come, and the tabs are now moved above the URL bar, but other features and what not will be announced soon. A technology preview of Rekonq 2.0 is expected around the end of October.
Rekonq can be downloaded from KDE.org. Among the features for this QtWebKit KDE web-browser are tabs, KDE desktop integration, an unique address loading bar, plug-in support, proxy support, and is lightweight in contrast to some other modern web-browsers.