If you lived there, then perhaps, but the job was advertised on a forum requiring a membership and it is read and subscribed to by predominantly Western pilots, Americas and Europe. I would think the target audience is well defined as pilots from these areas. For that and the area the salary is rediculously low.
Even for those coming from those areas you just mentioned, it is not the deal of the century or kings ransom. Many companies and people in those areas operate first class modern equipment and quickly have the chance to move to contracts that are paying double or even triple to what this contract offered.
Peopla forget that when you work in an other country than your home, you still have those fixed expenses back home that are there regardless of what you make in your host country. Salaries and compensation packages often do not account for this. Alas high turnover or need to constantly advertise as the terms and conditions do not interest people.