No, there is no way in the world you will "live" on that money in Dubai. You would lead a basic existance between shifts and thats it.
The housing allowance won`t even get you a one bedroom appartment let alone pay for the utilities.
Those that do survive on that money usually have company provided accomodation and many live in Sharjah where the rents are a bit cheaper but the daily commute in heavy traffic would be very difficult.