Kewell, once a star in the Premier League with Leeds and Liverpool, is currently a free agent after his contract with Turkish giants Galatasaray expired at the end of last season.
And for most of this summer, the 32-year-old had looked set to return to Australia, with A-League side Melbourne Victory favourites to land his signature.
However, Australia's top-flight league competition is restricted by a salary cap which severely limits the amount of cash that can be offered to each player.
Aware of the situation, Al Nassr of Saudi Arabia and UAE clubs Al-Ahli Dubai and Al Jazira are reportedly looking to capitalise on the situation by presenting Kewell with lucrative offers respectively, if reports from SBS World Game are to be believed.
Dubai agent Mohamed Oun Alhrabi told the World Game he believed Kewell was seriously weighing up returning to Australia, and moving to the Middle East.
"My belief is that it's a 50-50 situation regarding Harry and whether or not he will come to the Gulf or go back to Australia."
Former Australia team-mate Mark Bresciano has already signed for Al Nassr, while Al Jazira are reportedly chasing national team captain Lucas Neill, according to the Herald Sun.