It actually might be located in Saudi Arabia.
There are two rivers that are supposed to be running through Jerusalem which do not exist. And that is not simply that they're just not running today, but that there are no signs whatsoever that any ever ran through what is called Jerusalem today.
There's a couple of sites in what is Arabia today which bear topographic resemblances to what is described in the Bible. Now you take a nation and relocate it elsewhere in a conquering empire (hello, Babylon), and then the Iranians liberate them and allow them to return, and the question is, did they really ever get back home at all?
Regardless, they lost this territory 2000 years ago. Sucks, but que sera, c'est la vie.