Yeah, I've always felt that the new Predator movie would take place in the Middle East. It's what I expected for Predator 3, instead we got a new planet, which was cool, but they didn't really have the budget to go very far with it. Middle East would have been a great place to "test the waters" for the Predator franchise and could have been pulled off and done well on a tight budget pretty easily.
What's the status on Predator 4's budget? To be an "Event Film", I imagine it would be pretty high. I hope we get a global hunt, a Predator not content to remain in a single location, or the main characters tracking a Predator accross the globe, studying the carnage left in its' wake to try and guess where it will strike next and thus head it off.