Gaz, Tilke is sought after because he's good at the circuit
architecture too, but Sakhir, Shanghai, Istanbul and Hockenheim all
have a similar feel. Subjective as it is, variety would be nice,
personally I'd like to see a fast, sweeping but less technical
circuit.
Moving away from that...yes we have the amenities and
infrastructure, and we can sell the race as part of a tour package.
However, they are already in talks with Bernie Ecclestone (Poison
Dwarf). Potentially some of the European races will make way
(Hungary, France, Nürburgring, maybe Spain too) as the teams would
be unwilling to participate in more than 18/19 races a year. Which
one will we displace? Europe has a high concentration of fans.
Bernie and Max Mosley do some of the weirdest things but they won't
miss that. We may stand a chance though if they decide to introduce
events in alternate years.
And the long-term stability of F1 is uncertain at the moment, with
the GPWC gathering momentum while Ferrari and 2 smaller teams
(could be Red Bull, Midland or Dubai) have signed a new Concorde
Agreement. Should we wait and see, or take a gamble with either?
Being the first country to take the risk and sign up with the GPWC
has some serious implications. 
Zulu has a point which sounds ridiculous initially but actually
rings true...think about it.
