If you are working in WestBay or closer to that area you won't find a decent accommodation for that price range. Then you will have to move bit further [like Wakra maybe]. Then if you are planning to take a taxi to work its gonna cost you more [The minimum is 10 Riyals one way, so even if you live within 3 kilometers you will still have to pay about 600 Riyals at least [this is only for coming and going to work. Then there are journeys to the shopping mall and etc which will cost extra]

Food you should be able to handle with that cost if you manage not to get distracted with so much choices available here. :) [This includes never eating out]

I find its the costs that falls in to 'others' category that gives me the major expenses. Such as clothes, household items, etc. [the only time I went for a movie it cost me about 50 Riyals for the ticket O.o - but it was hobbit. So worth it]

You may want to rethink the amount you are trying to save. :) At least for the first few months I don't suppose you'd be able to save much.