My dad has lived and worked in various Middle Eastern countries for coming up to 20 years now (on and off), including Saudi. I visited Saudi a fair amount, although not so recently, and ended up doing work on Saudi projects. I've spent a reasonable amount of time visiting other GCC places and doing projects there (from outside, I should say). I'm generally positive about Arab culture, working abroad and actually even quite like Dubai in a way.
So with that as a prelude: in my opinion, no, nay, never. It's a complete dump, it's not so cheap any more, it's full of miserable **** and slaves, it's fantastically boring and restricted, and the security situation imvh-amateur-o has never been worse.
Bahrain is a dump too.
Put it this way: think of the worst, nastiest town in the UK. Would you accept a 30% premium on the condition that you lived and worked there, and weren't allowed to see any of your family and friends more than 3-4 times a year, and the only place you'd be allowed to go on the weekend was a 3 hour drive to the second worst, nastiest town in the UK?
YMMV, of course. Why not ask the employer to fly you out there for a look around first?