The Dubai-based Emarati pro league team has confirmed serious negotiations with the former Manchester United, Real Madrid striker.
Al Shabab club said on Twitter that the negotiations with Owen are on and in its final stages.
The former England striker has an offer from Stoke but his chances of joining the Potters depend on his willingness to accept a pay-as-you-play deal.
Owen, 32, made only six Premier League starts in three years at Manchester United and his last competitive appearance was against Otelul Galati in November.