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As anon says the salary you are being offered is pretty decent, but whether you and your family can live comfortably on it will depend on your lifestyle.
The housing allowance is pretty decent and you should be able to get a nice villa for that price.
Sending 4 children to international school will be expensive though. It is likely to be at least AED 50,000 per year per child.
Also, you should check to see wether flights home and health insurance for you and your family will come as part of the employment package.
Use the Expat Arrival's Cost of Living in Abu Dhabi page to help you estimate your costs.Then if you are not completley happy with the offer, do not be afraid to go back to the employer and negotiate a more suitable package. This page of Contract Negotiation in Abu Dhabi should help you there.
Good luck