They grey market is an issue that EASA wants stamped out, KSA is therefore insisting that all large aircraft are operated under a new 125 regulation if not 135. And foreign registered aircraft will not be permitted to stay in KSA for more than 48 hours or similar, therefore the grey market will be closed.
As usual in this part of the world the initial interpretation of the rulings can sometimes cause confusion.
Once the Eid is over, you should try contacting VP Safety and Economic Affairs in GACA for clarification, alternatively for the flights that you have now, could you not save them by using a Saudi operator?
Mutt