"It is good to face a strong team who are the Asian champions. We (also) have an excellent team and good players.
"I know Qatar are doing well and are a capable team. I congratulate Qatar head coach Felix Sanchez for his good work," Renard was quoted as saying by www.the-afc.com
Both teams overcame tough starts to reach the semi-finals, with Saudi Arabia suffering a 3-1 defeat to Iraq and Qatar also losing 2-1 to Iraq.
Qatar bounced back with wins over Yemen (6-0) and the United Arab Emirates (4-2) as Group A runners-up while Saudi Arabia topped Group B after defeating Bahrain (2-0) and defending champions Oman (3-1).
"I am excited about this match because it will be between two big teams, and in a stadium full of fans.
"This is the fun of football. It is true that our fans will be less, but I have trust in my team. It will be a beautiful match and we will work to prepare for it as required," he added.
Both teams are bidding to win the Gulf Cup for a fourth time.
Qatar's last victory was in 2014, when they beat Saudi Arabia in the final.
Saudi Arabia have been waiting even longer, as the last of their triumphs was in 2003-04.
( With inputs from IANS )